10 June 2009 09:29 [Source: ICIS news]
The government-backed sale of Chrysler was expected to close on Wednesday morning in the ?xml:namespace>
In a statement released on 1 June, Chrysler had said it would sell most of its operations to Chrysler Group LLC, a new company that was formed in alliance with Fiat. This sale had been approved by the Bankruptcy Court of the southern district of New York.
The steep economic downturn had pushed Chrysler, along with General Motors, to bankruptcy despite the
The automobile industry is a major end-user of petrochemicals. The American Chemistry Council estimates that nearly $2,700 worth of chemical products or chemical processing value goes into each vehicle.
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