US Machine Maker Files Bankruptcy, Blaming Chinese Regulators
- Hardinge Inc. blocked from selling business in China
- Firm had moved some manufacturing back to US from Asia
A worker checks a part on a Hardinge machine at a precision machinery in Dallas, Texas.
Photographer: Matt Nager/BloombergHardinge Inc., which makes metal-working machines for the automotive and aerospace industries, filed bankruptcy, blaming Chinese regulators who stalled the company’s plans to sell its operations in the country.
The company will try to sell itself in bankruptcy to affiliates of Centre Lane Partners, a private equity firm that took over as Hardinge’s senior lender last week. Under a proposal still being negotiated, Centre Lane would act as the lead bidder in a court-supervised auction, documents show.
