Dura_Automotive_Systems

Dura Automotive Systems

Dura Automotive Systems

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Dura Automotive Systems (shortened to Dura) is an independent designer and manufacturer of automotive components, including control systems, exterior systems and lightweight structural systems. Dura markets its automotive products to every North American, Asian and European original equipment manufacturers (OEMs) and many leading Tier 1 automotive suppliers. Dura is headquartered in Auburn Hills, Michigan, USA with more than 21,000 employees at 41 sites in 15 countries.[citation needed]

Dura was ranked in the 2006 Fortune 1000. Later that year, on October 30, 2006, Dura filed for Chapter 11 bankruptcy protection.[1] Final determination to delist Dura's common stock and convertible trust preferred securities from NASDAQ was made November 13, 2006.[2]

In December 2009, Dura Automotive Systems was acquired by Lynn Tilton through her New York-based private equity firm Patriarch Partners.[3] In the deal, Dura absorbed Global Automotive Systems of suburban Detroit, also owned by Patriarch Partners, to form a parts supplier with global "sales of $1.6 billion and 10,800 employees in 39 manufacturing operations in 16 countries."[4]

In October 2019, Dura Automotive Systems again filed for bankruptcy.[5]

References

  1. [1]
    Bennett, Jeff (October 30, 2006). "Dura Auto Files for Bankruptcy as Parts Demand Falls (Update2)". Bloomberg.com. Archived from the original on January 13, 2014.
  2. [2]
    "Final Determination to Delist Common Stock and Convertible Trust Preferred Securities of Dura Automotive Systems, Inc. From The NASDAQ Stock Market". New York: GlobeNewswire. November 13, 2006. Archived from the original on January 17, 2009.
  3. [3]
    "Patriarch Takes Controlling Stake in Dura". The New York Times. December 14, 2009.[dead link]
  4. [4]
    "DURA Automotive Systems Announces New Management Structure". Austin Business Journal. Rochester Hills, Michigan: American City Business Journals. February 3, 2010. Archived from the original on October 6, 2012.
  5. [5]
    Nagl, Kurt (October 17, 2019). "Dura Automotive files or Chapter 11 bankruptcy". Crain’s Detroit Business. Detroit. Retrieved October 17, 2019.


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