Wednesday, April 15, 2009

American start five billion U.S. dollars to the automotive aftermarket Assistance Scheme.

On the 8th that the U.S. Treasury Department, has started five billion U.S. dollars the total amount of auto parts business assistance program in order to prevent troubled GM and Chrysler parts shortage crisis there.

A spokesman for the U.S. Treasury Department said Jennifer, in the current U.S. auto industry faces a difficult period of restructuring, the program will receive much-needed spare parts business cash flow, the Protection of the employment, and GM and Chrysler to obtain the necessary spare parts .

GM and Chrysler said that its parts suppliers are expected to separate from the plan to get some two billion U.S. dollars and 15 million dollars in aid. According to the relevant program, the U.S. auto parts companies have not been paid for delivery before a certain discount to the Government can sell the accounts receivable in exchange for payment of operation and maintain the wages of the workers much-needed funds.

Because the U.S. auto industry in general in the cargo compartment to the 40-60 days after the payment, in addition to General Motors, Chrysler and other auto company's cash flow in an emergency, and the credit crunch has also caused disruption of corporate finance, and many auto parts enterprises are facing the depletion of funds and even close collapse of the state, but also so that enterprises are facing greater pressure on pay cuts and layoffs. U.S. auto parts industry about 50 million workers.

According to U.S. officials disclosed that Obama government has also sent a 15-member working group to Detroit to help speed up the restructuring process in general. Obama on March 30 turned down by the Government general reorganization plan and said that GM wants to get additional assistance must be submitted within 60 days of the reorganization plan is more profound.

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