Getrag's U.S. transmission plant files for CH11 after Chrysler pull-out

The roundabout that was the Chrysler, LLC-Getrag partnership recently came to an end with Chrysler pulling out the deal, citing untenable financing terms. Now Getrag Transmission Manufacturing, the U.S. company that was going to build the dual-clutch transmissions for Chrysler, has filed for Chapter 11. Getrag has done so in order to streamline its handling of claims and creditors.

Of course, it's not over: Getrag is suing Chrysler for pulling out, Chrysler is suing Getrag for not getting the $300 million financing that Getrag was supposed to bring to the table. Other than the lawsuits and bad blood, all that's left are the partial remains of the factory that was to build the transmissions, and Chrysler's need to find a source of dual-clutch transmissions. Just another monument to the turmoil the auto industry is currently mired in.

[Source: Automotive News, sub req'd]

Getrag's U.S. transmission plant files for CH11 after Chrysler pull-out originally appeared on Autoblog on Mon, 17 Nov 2008 15:33:00 EST. Please see our terms for use of feeds.

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