Auto Supplier Intermet Flees Into Ch. 11

Law360, New York (August 13, 2008, 12:00 AM EDT) -- Citing unprecedented low automotive sales volumes and high commodity prices, Intermet Corp. has filed for bankruptcy protection for the second time in about five years.

The Texas-based automotive cast component supplier company and its domestic subsidiaries filed for Chapter 11 on Tuesday in the U.S. Bankruptcy Court for the District of Delaware.

The company listed assets between $50 million and $100 million and liabilities between $100 million and $500 million. In the 12-month period ended July 31, 2008, the company said that it had sales of...
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