- Transcast Precision Inc. receives ruling that Chrysler must pay 1.75
times original sale price for parts inventory -
TORONTO, April 8 /CNW/ - Wallaceburg-based Transcast Precision Inc., an
auto parts manufacturer, is relieved at hearing that late Tuesday, April 7,
Madam Justice Hoy modified her earlier-stated endorsement of Friday, April 3,
and is now ruling that Chrysler Canada will have to pay the parts manufacturer
for its inventory.
The dollar amount Chrysler is ordered to pay is equivalent to 1.75 times
the original sale price established by Vannatter Group Inc. - Transcast's
"We find this most-recent ruling rather bittersweet; we are relieved that
Madam Justice Hoy changed her original order; however, we continue to feel
frustrated with this entire dispute," said Dean Topolinksi, President,
Transcast Precision Inc. "We feel that Chrysler is acting recklessly - and in
a manner that continues to cost both jobs at our Wallaceburg plant, as well as
millions in taxpayer dollars."
Despite the recent ruling that is intended to benefit the auto parts
manufacturer, Transcast is continuing to target Chrysler Canada to ensure that
the auto giant plays fair and conducts itself in a responsible manner.
In effort to raise awareness among all relevant parties - from employees
to Canadian taxpayers - of the current dispute between Transcast and Chrysler,
the auto parts manufacturing company has started a Facebook group -
'Responsible Auto Parts Manufacturing' to facilitate open dialogue.
Added Topolinski: "Transcast is not alone in this dispute with the titans
of the auto industry. Every independent supplier is at risk of losing
contracts and jobs at a moment's notice unless they agree to play by the OEM's
rules - regardless of how irrational or irresponsible they may be."
For further information:
For further information: For a media interview with Dean Topolinski,
please contact: Mansfield Communications Inc., Hugh Mansfield - Office: (416)
599-0024 ext. 237, Mobile: (416) 918-4791; Tiffany Fisher - Office: (416)
599-0024 ext. 222, Mobile: (416) 456-7650