News
Key Safety Systems To Buy Takata For $1.6 Billion
Just in case you don’t know Takata, it’s a company that builds safety features in cars especially air bags. Takata has had a pretty rough year with various law suits, at least 18 confirmed deaths and even filing for bankruptcy.
Key Safety Systems(KSS) a supplier of auto safety parts is making moves to buy Takata for $1.6 Billion, negotiations to make this happen started in June.
KSS will finance the purchase through a combination of debt and equity. The deal is expected to close in the first quarter of 2018, as long as bankruptcy courts in Japan and the U.S. approve.
The Detroit based KSS, owned by a Chinese company, says this acquisition would help position it as a world leader in auto safety business.
There will be so many recalls all the way till 2019, because of faulty Takata air bags which might explode. This number is very close to 70 million air bags!
