Tuesday, Sep 27, 2016
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Automotive

Auto-painting firm to be liquidated

WILMINGTON, Del. Auto-painting firm Haden International Group Inc. has filed for Chapter 7 protection in the U.S. Bankruptcy Court here.

The privately held company, based in Auburn Hills, Mich., listed assets and debts each of less than $100 million, in its filing this week.

Its assets will be liquidated. Palladium Equity Partners LLC, a private-equity firm in New York, owns a controlling stake in Haden, but an official of that firm declined to comment.

Haden had been responsible for a paint factory this year at the newest factory group at DaimlerChrysler AG s Toledo Jeep Assembly complex. But Chrysler took over the operation for the new Jeep Wranglers early in the year after several contractors building the factory filed liens against Haden for lack of payment.

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