WASHINGTON -- Parts supplier Meridian Automotive Systems Inc. pulled plans for its initial public offering on Tuesday, telling regulators that "current market conditions" didn't support an offering at this time.
The Dearborn, Mich.,-based firm had planned to raise as much as $173 million through a sale of its common stock, according to previous Securities and Exchange Commission filings.
The company never detailed the price or amount of shares to be offered.
Credit Suisse First Boston and Banc of America Securities LLC were to have underwritten the IPO.
Meridian, which first filed to go public in August 2002, supplies bumpers and other parts to Ford Motor Co., General Motors and DaimlerChrysler AG.