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Court approves Suzuki bankruptcy plan

Suzuki has won approval for its Chapter 11 plan to stop selling cars in the US and concentrate instead on the company's powersports products. Judge Scott C. Clarkson of the US Bankruptcy Court for the Central District of California approved the plan after the company's creditors agreed to the conditions.
Suzuki will now sell its motorcycle, ATV and marine divisions to the newly minted Suzuki Motor of America subsidiary under the Suzuki name. The new company will be wholly owned by Suzuki Motor Company. This is the final piece of the company's restructuring puzzle.
The company says it will now be able to grow its powersports businesses here in the US and also provide auto parts and service to current Suzuki owners through what's left of the company's dealer network. You can check out the brief press release on the bankruptcy plan below.

Kayaba, Sumitomo to pay millions for price-fixing in US

Kayaba Industry Co, which does business in the US as suspension parts maker KYB, and Sumitomo Electric Industries are facing payments in the millions to settle price-fixing cases about the components that they make. As part of the Department of Justice's ongoing crackdown of price fixing in the auto industry, KYB agreed to pay $62 million and pleaded guilty to conspiracy to set the cost of shock absorbers from the mid '90s through 2012. The company allegedly worked with co-conspirators to keep the cost of the parts high, and those components then made it into vehicles from Honda, Kawasaki, Nissan, Subaru, Suzuki, and Toyota. "Any collusive agreement among competitors to restrict price competition undercuts our free enterprise system and violates the law," said Carter M. Stewart, US Attorney of the Southern District of Ohio, in the DoJ's announcement. Over the past few years, the DoJ has brought cases against 37 parts suppliers and 55 executives, leading to over $2.6 billion in fines. The investigations haven't always been so successful – some of the Japanese execs fled from the US to avoid prosecution. Critics allege that price fixing is simply how business is done. According to Automotive News, Sumitomo Electric Industries is also facing a $50 million settlement in a civil lawsuit that's related to price fixing of parts like wiring harnesses and heater control panels. The plaintiffs include owners and dealers that purchased vehicles with these parts. The company asserts that the violations are from before 2010, and it now has different process in place to avoid further violations. KYB Agrees to Plead Guilty and Pay $62 Million Criminal Fine for Fixing Price of Shock Absorbers Kayaba Industry Co. Ltd., dba KYB Corporation (KYB) has agreed to plead guilty and to pay a $62 million criminal fine for its role in a conspiracy to fix the price of shock absorbers installed in cars and motorcycles sold to U.S. consumers. According to charges filed today, KYB conspired from the mid-1990s until 2012 to fix the prices of shock absorbers sold to Fuji Heavy Industries Ltd. (manufacturer of Subaru vehicles), Honda Motor Co. Ltd., Kawasaki Heavy Industries Ltd., Nissan Motor Company Ltd., Suzuki Motor Corporation and Toyota Motor Company, including their subsidiaries in the United States.

Suzuki introduces reborn Katana motorcycle

At the Cologne INTERMOT motorcycle show, Suzuki has shown its all-new Katana bike. The model brings back the classic, sword-referencing Katana name, which the manufacturer first used in 1980 — that bike, the GSX1100S Katana, was also unveiled in Cologne all those years ago. The bike utilizes a modified version of the GSX-R1000 engine in a lightweight, twin-spar aluminum frame. The engine's 150 peak horsepower comes at 10,000 rpm; the bike weighs 474 pounds. There's a fully digital gauge cluster, complete with the classic Katana logo. The bike's styling is quite dynamic, as if it were in fact sliced into completion using a Japanese sword. It is highly reminiscent of the Katana 3.0 concept Suzuki showed last year at EICMA — consider the new Katana a road-going version of the concept bike. The stacked headlight has LED running lights, and the taillight, fitted in the angular tail, also comprises LEDs. The plate in turn is fixed on a swingarm extension, as near the rear tire as possible. There are fully adjustable 43mm USD front forks and an adjustable rear shock from KYB, Brembo brakes from the GSX-R1000 and Bosch ABS. A three-mode traction control system is included, but it can also be excluded via switching it off. The system monitors wheel speeds, throttle and crank position, adjusting timing and air delivery to reduce engine output when it notices wheelspin. The related GSX-R1000 and R1000R models are also updated; the latter gets an adjustable swingarm pivot and new stainless steel braided brake hoses. The R1000R's bi-directional quickshifter and auto-blipper are now standard on the R1000, enabling smoother gearshifts. The Katana and the updated GSX-R1000 and GSX-R1000R reach dealers in spring 2019. Related Video: Featured Gallery 2020 Suzuki Katana View 13 Photos Image Credit: Suzuki Suzuki Motorcycle Bikes intermot suzuki gsx-r1000