DETROIT -- Oxford Automotive Inc. has emerged from Chapter 11 bankruptcy protection with new owners and a new focus: the European market.
Oxford once was a key supplier to DaimlerChrysler. But the Troy, Mich., supplier of structural, suspension and chassis components struggled before filing for Chapter 11 protection in December.
Last week Oxford's new owners, most of them Oxford's bondholders, said their new company will be called Oxford Automotive ApS. Its headquarters will be in Elancourt Cedex, France.
Oxford operates stamping and assembly operations in France and Germany, and also has operations in Turkey.
Of 10 Oxford plants in North America, six have been sold. The remaining four are being sold for their buildings and equipment.
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