There are traces of asbestos all over the balance sheet of Bendix Brakes, the Ballarat-based manufacturer owned by Wall Street’s bankrupted problem child First Brands Group. And it’s setting the scene for a contentious auction.
Several parties considered as logical suitors for Bendix Brakes, including Dymond Family’s engine oil company Penrite and ASX-listed auto parts players Amotiv, baulked at liabilities arising from the decades-long use of asbestos in its products, sources told this column on the condition of anonymity.
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