Local car dealers recall certain vehicles over airbags following Scientist’s death

[monson]

Local car dealers have announced the recalling of certain vehicles with faulty airbags following the death of a leading Sri Lankan scientist last week.

A scientist from the Sri Lanka Institute of Nanotechnology (SLINTEC) was killed in a road accident at Kumbuka in Gonapola, Horana on Feb.3.

Police said the 37-year old scientist, who was returning home in a luxury car, died after his car hit a concrete post of a road barrier. His car had toppled and he was killed when a metal shard of the airbag that had been activated upon impact caused grievous injuries leading to his death.

Following this tragedy, local car dealers of vehicles similar to that of the late scientist have recalled certain vehicle models for an Air Bag system upgrade.

Local car dealers have published a newspaper advertisement recalling the following vehicle models:

Civic :ES4/ES8/FD1/FD4/FB1

CRV : RD1/RD5/RE2/ RE3/RE4

Accord:CM5/ CL5/CL7/CF8/CF9

Fit/ Jazz GP1/GP2/GP3 /GP4/GE6/ GD1/GD8/GD6

City:GM2/ 3A3

Insight:ZE2/ZE3

Stream : RN3

Integra: DC2

Odyssey: RA3

Corolla 141 : ZRE 141R- AE## / ZZE141R- AE# / CE140R- AEH#A

Yaris : NCP92R-BE### / NCP42R- BE## / NCP90R- BE##

The dealers warned that noncompliance to the above recall may result in injury to the driver and the front passenger if airbags are deployed in the event of a collision.

- https://www.dailymirror.lk/breaking...airbags-following-Scientists-death/108-253929

 

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AMW, a wholly-owned company of Al-Futtaim based in UAE, which provides some of the world’s most-recognized automotive brands, services, and mobility solutions to customers, said it has begun the process of closing down identified locations across Sri Lanka.


“The restructuring of AMW is in direct response to Sri Lanka’s current economic situation and the challenges that high inflation, vehicle import bans and high interest rates place on the automotive sector,” a statement said.


Over the coming weeks, the company will select which locations to close, with the closures taking place over the next few months. It will maintain its owned facilities and businesses across the country including its brand partnerships with Nissan, Suzuki, Yamaha, Renault and New Holland.


The statement further said AMW employees have been informed of the resizing by management and AMW has committed to offering the highest level of support to all employees during these challenging times.


In recognition of their valued contribution, the company will be offering assistance for re-employment, well-being and financial support.

https://www.dailymirror.lk/breaking_news/AMW-to-downsize-operations-in-Sri-Lanka/108-248459

 

[monson]

Japan’s Takata gained notoriety

Dr. Rohan Pallewatta, the chairman of Lanka Harness Pvt. Ltd., which specialises in manufacturing airbag sensors, while expressing his disappointment for the loss of life, says the airbag issue was caused by Japan’s Takata Public Limited Company.
A design fault caused the inflator to explode and led to 100 deaths in the United States, where a recall was ordered. The Takata Company was fined US$22 billion, which led to bankruptcy.

New airbag systems have been designed in such a way that when pieces detach and fly off, they would take a different direction so as not to cause any harm to passegers, in addition to meshes which control any unnecessary pieces from detaching and flying off.

- https://www.sundaytimes.lk/230212/n...over-deadly-airbags-in-motor-cars-511705.html

Airbag maker Takata files for bankruptcy in Japan and US​

PUBLISHED MON, JUN 26 20172:51 AM EDT

Japan’s Takata Corp, the firm at the center of the auto industry’s biggest ever product recall, filed for bankruptcy protection in the United States and Japan, and said it would be bought for $1.6
billion by U.S.-based Key Safety Systems.

In the biggest bankruptcy of a Japanese manufacturer, Takata faces tens of billions of dollars in costs and liabilities resulting from almost a decade of recalls and lawsuits. Its airbags have been linked to at least 17 deaths around the world.




TK Holdings, its U.S. operations, filed Chapter 11 bankruptcy in Delaware on Sunday with liabilities of $10 billion to $50 billion, while the Japanese parent filed for protection with the Tokyo District Court early on Monday.

Takata’s total liabilities stand at 1.7 trillion yen ($15 billion), Tokyo Shoko Research estimated.

Final liabilities would depend on the outcome of discussions with carmaker customers who have borne the bulk of the replacement costs, a lawyer for the company said.

The filings open the door to the financial rescue by Key Safety Systems (KSS), a Michigan-based parts supplier owned by China’s Ningbo Joyson Electronic Corp.

In a deal that took 16 months to hammer out, KSS agreed to take over Takata’s viable operations, while the remaining operations will be reorganized to continue churning out millions of replacement airbag inflators, the two firms said.




The U.S. company would keep “substantially all” of Takata’s 60,000 employees in 23 countries and maintain its factories in Japan. The agreement is meant to allow Takata to continue operating without interruptions and with minimal disruptions to its supply chain.

“We believe taking these actions in Japan and the U.S. is the best way to address the ongoing costs and liabilities of the airbag inflator issues with certainty and in an organised manner,” Takata CEO Shigehisa Takada said in a statement.

Takada said he and top management would resign “when the timing of the restructuring is set.” His family - which still has control of the 84-year-old company - likely would cease to be shareholders.

Jason Luo, president and CEO of KSS, said in a statement the “underlying strength” of Takata’s business had not diminished despite the airbag recall, citing its skilled employee base, geographic reach and other safety products such as seat belts.

The companies expect to seal definitive agreements for the sale in coming weeks and complete the twin bankruptcy processes in the first quarter of 2018.

The filings have, however, not resolved all issues. Honda Motor, Takata’s biggest customer, said it had reached no final agreement with Takata on responsibilities for the recall. Honda said it would continue talks with the supplier but anticipated difficulties in recovering the bulk of its claims.

Unprecedented recalls

Takata faces billions in lawsuits and recall-related costs to its clients, including Honda, BMW, Toyota Motor and others which have been paying recall costs to date.

It also faces potential liabilities stemming from class action lawsuits in the United States, Canada and other countries.

Global transport authorities have ordered about 100 million inflators to be recalled. Industry sources have said that recall costs could climb to about $10 billion.

The ammonium nitrate compound used in the airbags was found to become volatile with age and prolonged exposure to heat, causing the devices to explode.

Costs so far have pushed the company into the red for three years, and it has been forced to sell subsidiaries to pay fines and other liabilities.

Founded as a textiles company in 1933, Takata began producing airbags in 1987 and at its peak became the world’s No.2 producer of the safety products.

It also produces one-third of all seatbelts used in vehicles sold globally, along with other components.

The Tokyo Stock Exchange said its shares would be delisted on July 27. The stock has collapsed 95 percent since January 2014 as the recalls mounted.

- https://www.cnbc.com/2017/06/25/tak...-delaware-expected-to-file-in-japan-soon.html