Auto Supplier Precision Parts Seeks Ch. 11

Law360, New York (December 15, 2008, 12:00 AM EST) -- Precision Parts International LLC, a supplier of precision metal formed components to the automotive, aviation and industrial sectors, has filed for Chapter 11 bankruptcy protection, citing the beleaguered automotive industry and the increased price of steel.

In a voluntary petition filed Friday in the U.S. Bankruptcy Court for the District of Delaware, the privately held Rochester Hills, Mich.-based company and eight affiliates listed assets between $100 and $500 million and liabilities of approximately $184.5 million. The debtors are operating their businesses and managing their property as...
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