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Takata acquisition complete

Auto components maker Key Safety Systems (KSS) has completed its acquisition of airbag manufacturer Takata.

Michigan-based, Chinese-owned KSS will pay $1.6 billion deal to acquire Takata. Faults in the Japanese company’s products led to deaths, vehicle recalls, law suits and, in 2017, its filing for bankruptcy protection.

The new combined company will be called Joyson Safety Systems and will have its headquarters in Michigan.




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