Monday, July 13, 2009
This morning diecaster J.L. French Automotive Castings filed for Chapter 11 bankruptcy, although the company has stated that no production will be impeded and business will continue as usual. J.L. French is a big supplier to the Ford Motor Company (NYSE:F), which was supposed to be the only beacon of hope in the US automobile sector during the current downturn. But this shows us that things have not settled at all in the industry, and we expect tougher times ahead with continuing news like this.
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