Japanese car parts producer Takata, which owns three plants in Romania, will ask for bankruptcy protection and will try to restructure, according to sources quoted by Reuters.
Takata could be rescued by the US firm Key Safety Systems Inc, which will buy a part of the company’s assets. The US group will take over Takata’s operations for USD 1.6 billion and will continue to produce airbags, safety belts and other components, according to the Japanese magazine Nikkei.
The Japanese company became famous for manufacturing airbags with defects. Tens of millions of airbags have been replaced since 2008 until now.
In Romania, Takata owns two factories in Arad, where it produces safety belts and steering wheels and one in Sibiu, where it produces airbags.
The Japanese group was founded in 1933. The investors decided to move their focus on producing airbags in the ‘80s, due to company’s long tradition in textiles.