Detroit's Sakthi Automotive appears likely to shutter
But the soon to be shuttered plant is 'prime real estate'....provided your employees don't rob you :confused:
Quote:
Sakthi Automotive Group USA Inc. was the first new automotive parts supplier to open in Detroit in about a decade. The knuckle and steering arm supplier transformed a shuttered ArvinMeritor plant and planned to repurpose the 98-year-old defunct Southwestern High School into a training center. It prioritized hiring Detroiters and became the state's benchmark employer for its returning citizens program by hiring more than 200 parolees.
Quote:
In the complaint, which is still ongoing, Kumar alleges the company performed well, netting a profit of $4.4 million between January 2018 and June 2018 even after discovering "corporate theft" of $4.5 million through a financial review. In a phone call with Crain's, Kumar said a ring of employees stole equipment from a warehouse and sold it, eventually resulting in an FBI investigation.
Kinda of buried the lead there Crain's.
