Faulty airbag supplier Takata files for bankruptcy

Japanese air bag maker Takata has filed for bankruptcy protection in Tokyo and the US after being overwhelmed by lawsuits and recall costs related to production of faulty inflators linked to the deaths of at least 16 people.

Takata confirmed that most of its assets would be bought by rival Key Safety Systems (KSS), based in Detroit, for around $1.6bn, according to an announcement by the two companies.

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Faulty airbag supplier Takata files for bankruptcy

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