Now that the court documents have officially been filed, details regarding
ongoing plans to stay in business are becoming a bit less muddy. Two corporations will be created from the dying automaker: a so-called "OldCo" with unwanted bits and liabilities that seem likely to die a slow and painful death through the automaker's Chapter 11 filing, and a "NewCo" that contains the best that the ailing automaker has to offer.
Tellingly, lumped in with the OldCo legal entity are eight plants that now seem likely to be closed down entirely. In addition to plants in south St. Louis, Missouri and Newark, Deleware that are already idle, the following 6 North American plants are in danger:
- Sterling Heights (Mich.) Assembly Plant
- Detroit (Mich.) Axle
- Conner Avenue (Detroit) Assembly
- St. Louis (Mo.) North Plant
- Kenosha (Wisc.) Engine
- Twinsburg (Ohio) Stamping Plant
These plants are all scheduled to be shut down by December of 2010. Considering that the assembly plant in Sterling Heights is the only location building the
, these two unloved mid-size sedans appear to be on the chopping block. Further, the Connor Avenue Assembly plant is where
, so unless a new
knight in shining armor
shows up to take the
operations off Chrysler's hands, that may be all she wrote for the V10-powered behemoth.
- sub. req'd | Image: Bill Pugliano/Getty]