Takata Bankruptcy Filings Clear the Way for Overhaul: Timeline
Takata to Sell All Assets to KSS for $1.59 Billion
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Takata Corp. filed for bankruptcy protection, paving the way for a restructuring of the troubled Japanese air-bag maker as it looks to tide over the biggest safety recall in automotive industry. It agreed to sell its businesses and assets to Chinese-owned Key Safety Systems Inc. for 175 billion yen ($1.6 billion).
Founded in the early 1930s as a textile maker, Takata turned into a supplier of auto safety devices. Below is a timeline of events leading up to the bankruptcy filing: