TOKYO -- Troubled Japanese automotive supplier Akebono Brake Industry said Wednesday it has reached a deal with creditors to wipe away 56 billion yen ($518 million) in debt as part of a restructuring that will dispose of six factories.
The sum represents half of Akebono's bank debt and helps pave the way for a turnaround for the supplier to General Motors, Toyota Motor and Nissan Motor.
By continuing to browse this website, you accept cookies which are used for several reasons such as personalizing content/ads and analyzing how this website is used. Please review our
to learn how you can update your cookie settings.