Wondering what’s going to happen with Viper now that Chrysler is restructuring under bankruptcy and will eventually be handed over to Fiat? So are we. Well, the folks at Inside Line did some serious digging and found out that the Viper brand may not survive beyond next year.
Chrysler’s documents show that its assets and liabilities are split into two groups – OldCo (old company) and New Chrysler, the company in which Fiat will assume majority stake.
“The major assets remaining in OldCo would include eight manufacturing facilities, and related machinery and equipment, with a book value of $2.3 billion,” said Robert Manzo in his declaration. “The [Section] 363 balance sheet analysis anticipates that certain plant and facility assets would be left behind in OldCo and closed by 2010.”
That list includes the Conner plant which builds the Viper and employs 115 workers.
Inside Line decided to contact Chrysler spokesman Todd Goyer via e-mail questioning Viper’s future. Goyer said:
“As previously indicated, Chrysler LLC is evaluating strategic alternatives for the Viper business including the potential sale of the Viper nameplate, Conner Avenue Assembly Plant, and/or associated tooling and resources. During this process Chrysler has been approached by a number of parties interested in purchasing the business.
“Chrysler continues to evaluate these proposals in an effort to maximize the value of the Viper business. No timeline has been established in connection with this process, and Chrysler will not comment on the nature of ongoing discussions or negotiations or confirm the identity of any of the interested parties.”
– By: The Daily Auto Editor
Source: Inside Line