A.G. Simpson given more time to restructure
TORONTO (Nov. 2, 2001) — Auto-parts maker A.G. Simpson been granted an extension of its bankruptcy protection to Dec. 21, giving the company more time to restructure for a possible sale.
The company, Canada’s sixth-largest auto parts maker, filed for bankruptcy protection on Oct. 2. It is trying to sell plants in Windsor and Oakville, Ont., as well as a factory in Sterling Heights, Mich.
A.G. Simpson is privately owned and makes bumpers and metal stampings, primarily for General Motors. It employs 1,600 and operates additional plants in Toronto, Oshawa, and Cambridge, Ont.
The company’s U.S. subsidiaries have filed for reorganization under Chapter 11 of U.S. bankruptcy law in a Michigan court.
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