Garrett Files Chapter 11

[Woods247]

https://www.roadandtrack.com/news/a34109553/turbocharger-maker-garrett-files-bankruptcy-protection/

 

[Se7eN]

wonder what this means for their current turbo lines

 

[Tygen1]

Probably nothing. Looks like they are just looking to be bought out.

 

[PhoenixM3]

Fire sale on Garrett snails!

 

[TyphoonFiST]

It means nothing....Garrett will go on with business as usual*

 

[sonicmn]

Probably nothing. Looks like they are just looking to be bought out.

Are they not already owned by Honeywell?

Maybe not...

from Wikipedia
"On October 1, 2018, Garrett Motion Inc. became an independent publicly-traded company through a pro rata distribution of Garrett shares to Honeywell’s stockholders. Each Honeywell stockholder of record received one share of Garrett common stock for every 10 shares of Honeywell common stock held on the record date. Approximately 74 million shares of Garrett common stock were distributed on October 1, 2018, to Honeywell stockholders"

I guess that could explain the issue.

 

[TyphoonFiST]

Are they not already owned by Honeywell?

Maybe not...

from Wikipedia
"On October 1, 2018, Garrett Motion Inc. became an independent publicly-traded company through a pro rata distribution of Garrett shares to Honeywell’s stockholders. Each Honeywell stockholder of record received one share of Garrett common stock for every 10 shares of Honeywell common stock held on the record date. Approximately 74 million shares of Garrett common stock were distributed on October 1, 2018, to Honeywell stockholders"

I guess that could explain the issue.

https://www.honeywell.com/en-us/new...onds-to-garrett-motion-incs-bankruptcy-filing

 

[Tygen1]

I believe Honeywell dropped them cause they were losing money.
They probably need to move more manufacturing to China 😉

I'm sure they'll be acquired and recover. They are a great brand.

 

[sonicmn]

https://www.honeywell.com/en-us/new...onds-to-garrett-motion-incs-bankruptcy-filing

Good find, looks like a bit of tension between the two.