Corvette Z06 Forum banner

1 - 20 of 27 Posts

·
Registered
Joined
·
4,024 Posts
Discussion Starter #1
The supplier for the Corvette rims has gone bankrupt and closed it’s doors. GM is working on a fix at this time.

Car wheel maker files for bankruptcy again!
The Associated Press
GAS CITY, Ind. (AP) — An auto parts supplier has filed for bankruptcy for the second time in a year, citing a loss of business from General Motors Corp.
Amcast Industrial Corp. expected new and continued business from GM — the source of about 80 percent of Amcast's revenue — after it reorganized and emerged from its first Chapter 11 bankruptcy filing last summer, according to documents filed Thursday in U.S. Bankruptcy Court in Indianapolis.

"Neither of those assumptions has proven to be true," Amcast officials said in court documents. "Not only has GM cut back on existing programs in some areas, but has also told Amcast that no new business would be given to Amcast and existing programs would be migrated away from Amcast in the coming months."

Amcast, based in the northeastern Indiana town of Fremont, employs 727 workers at plants in Fremont, Franklin and Gas City. The company makes aluminum wheels for cars and trucks and aluminum castings used for automobile suspensions, brakes and steering.
The bankruptcy filing allows Amcast to continue doing business while resolving its issues with GM, company officials said in a news release.

"In the meantime, employees will be paid their normal wages and bonuses and all benefit programs will continue uninterrupted," said Richard A. Lindenmuth, Amcast's interim chief executive officer. "We have funding arrangements in place with our existing lenders to continue operations during the bankruptcy case. We hope to conclude the process as promptly as possible."

In an attempt to restore its own profitability, GM recently announced that it would cease production at 12 facilities within the next two years and eliminate 30,000 jobs.

GM officials were aware of Amcast's bankruptcy filing but would not comment on any loss of business, said Tom Hill, a spokesman for the automaker.

"As a policy we don't comment on contracts with any suppliers," Hill said. "I can tell you that Amcast is a GM supplier and we are aware they filed for bankruptcy."

From the C6registry website.
 

·
Registered
Joined
·
9,957 Posts
maybe GM will just choose a second wheel supplier?

Maybe the same design? Maybe another design?

Seems like a pretty easy issue to deal with?
 

·
Premium Member
Joined
·
5,276 Posts
And so the house of cards begins to tremble... ;)
 

·
Registered
Joined
·
4,024 Posts
Discussion Starter #7
MSiska said:
Rick, is it the painted, polished or other parts that are going to slow the Z06 line? :-?
All wheels for the Corvette are made by this co. is my understanding. I am sure GM owns the dyes for the wheels and getting another manf. to produce them is all that will be needed.
 

·
Moderator
Joined
·
20,625 Posts
[email protected] Les Stanford said:
All wheels for the Corvette are made by this co. is my understanding. I am sure GM owns the dyes for the wheels and getting another manf. to produce them is all that will be needed.
How long will this shut the line down? Or does the plant have a stockpile?
 

·
Registered
Joined
·
787 Posts
[email protected] Les Stanford said:
All wheels for the Corvette are made by this co. is my understanding. I am sure GM owns the dyes for the wheels and getting another manf. to produce them is all that will be needed.
GM should produce them and let some people keep their jobs :(

Miguel
 

·
Registered
Joined
·
5,484 Posts
They should still have a couple hundred thousand Oldsmobile wheels laying around.:idea: :lol:

Jack
 

·
Registered
Joined
·
576 Posts
It would appear from the press release that Amcast is staying in production while they work out their problems with GM. Hopefully this will not affect the near term production of vettes.

GOLD72 :eek:
 

·
Registered
Joined
·
1,354 Posts
gsjack said:
They should still have a couple hundred thousand Oldsmobile wheels laying around.:idea: :lol:

Jack
I also heard that there is a warehouse near Area 51 with about 100,000 Citation X-10 steel slotted wheels in silvertone!

How cool would THOSE look on the Z!!!!
 

·
Registered
Joined
·
1,372 Posts
Great. Here comes the new z06 on steelies and hubcaps.
 

·
Moderator
Joined
·
10,998 Posts
defender said:
I also heard that there is a warehouse near Area 51 with about 100,000 Citation X-10 steel slotted wheels in silvertone!

How cool would THOSE look on the Z!!!!
:rofl: :rofl: :rofl:


(I used to own a Citation, please don't tell anyone..:blush: )
 
1 - 20 of 27 Posts
Top