PLASTECH-AUCTION DETROIT (AP) (wgvu) - THE AUTO PARTS SUPPLIER PLASTECH HAS RECEIVED
PERMISSION FROM A FEDERAL BANKRUPTCY JUDGE IN DETROIT TO START AN
AUCTION PROCESS NEXT MONTH TO SELL ITS ASSETS.
PLASTECH LAWYER GREGG GALARDI TOLD A DETROIT FEDERAL JUDGE THE
DEARBORN-BASED COMPANY EXPECTS TO PREPARE BIDS DURING THE NEXT TWO
WEEKS ON THE COMPANY'S INTERIOR AND EXTERIOR COMPONENT BUSINESSES.
THE JUDGE APPROVED A SCHEDULE TO HOLD AN AUCTION FOR THE
COMPANY'S BUSINESSES JUNE 16.
PLASTECH MAKES DOOR PANELS, CONSOLES, BUMPERS AND OTHER
PRODUCTS.
IT FILED FOR BANKRUPTCY PROTECTION IN FEBRUARY AFTER CHRYSLER
ANNOUNCED IT WAS CANCELING ITS CONTRACTS BECAUSE OF A PRICING
DISPUTE.
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