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Companies

Akebono Brake to shed 6 plants in US, Europe and Japan

Turnaround plan will cut 3,000 jobs as the company seeks debt forgiveness

Akebono's U.S. operations deteriorated after it failed to secure an order for GM's new model.   © Reuters

TOKYO -- Ailing Japanese auto parts supplier Akebono Brake Industry will shut down or sell six factories and eliminate about 3,000 jobs, or 30% of its global staff, under a restructuring plan presented to creditors.

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