Ford, GM Reportedly In Talks For Advance Payment Deal To Rescue Bankrupt First Brands Group

Ford Motor Co. (NYSE:F) and General Motors Co. (NYSE:GM) are reportedly in discussions to provide a financial lifeline to save the bankrupt auto parts supplier First Brands Group.

The potential deal involves the automakers making advance payments for the products they are set to receive. This would provide First Brands with much-needed cash to continue its operations.

The talks are reportedly in the final stages, with the deal’s success still uncertain,  reported the Financial Times on Tuesday.

The Ohio-based supplier produces critical components for Ford and GM, including windshield wiper parts used in Ford's F-150 pickup truck.

Several automakers are in advanced talks over a deal that would require upfront payments for expected parts deliveries, the publication reported. While discussions are close to the “finish line,” the agreement could still collapse, with Ford seen as the most exposed and ...