Takata Files for Bankruptcy Protection
EMBATTLED AIRBAG MAKER TAKATA FILES FOR BANKRUPTCY
(CNN) – Japanese airbag maker “Takata” is filing for bankruptcy.
The company has been struggling since its defective airbags led to recalls of tens of millions of vehicles.
The airbags can explode and send shrapnel into drivers and passengers.
They are blamed for at least 11 deaths in the U.S. and several more in other countries.
Takata is seeking bankruptcy protection in both the U.S. and Japan.
Most of its operations have been bought by key safety systems, a Chinese-owned company based in Michigan.