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November 17, 2008
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U.S. GETRAG plant files for bankruptcy protection

Sterling Heights, Michigan – GETRAG Transmission Manufacturing LLC has filed for bankruptcy protection for its Tipton, Indiana facility, which was being constructed for the sole purpose of manufacturing dual clutch transmissions for Chrysler. The company said that the filing did not affect other GETRAG companies or plants.

In a statement, GETRAG said that its action was the direct result of a recent termination by Chrysler of contractual agreements related to the construction and operation of the plant.

GETRAG and its German affiliate have filed a countersuit against Chrysler to recover costs associated with the project and reimbursement of all expenses incurred by the company and its suppliers in connection with the project, among other elements.

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