Local company hopes auto relief trickles down to them

By Mark Schirripa, mschirripa@wsbt.com

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A worker at Nyloncraft in Mishawaka takes GM parts off the assembly line. Auto parts suppliers are hoping the president's bailout of the auto industry will keep local workers on the job, too. (WSBT photo)

Story Created: Dec 19, 2008 at 8:56 PM EST

Story Updated: Dec 24, 2008 at 10:46 PM EST

MISHAWAKA — A local company that supplies parts to the auto industry is cautiously optimistic about Friday's announcement from President Bush that gives them financial relief.

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Automakers know the fight's not over. The Obama administration will check up on the auto makers at the end of March to make sure they're following the plan.

If they are, they may get more money then. So this bailout is buying some time, and people who rely on the industry hope people start buying cars.

The president's plan will loan $13.4 billion to Chrysler and General Motors. They might get more money later.

Mr. Bush said normally he would not loan out that kind of money, but he said these are not normal times.

At Nyloncraft in Mishawaka, 300 people manufacture parts for all domestic and many foreign car makers. They ship parts to plants all over the world.

The bailout means that they can keep making and shipping these parts, at least for now.

"It's good news," said Nyloncraft president Jim Krzyzewski. "It's not the end-all. It's a step in the game. It's something that was necessary, but we have to go to the next step. So let's not say that it's over. It was a good battle to win but the war goes on."

Aside from the financial impact, the relief forces the auto companies to increase gas mileage and lower emissions.

The car makers had been urged to take these measures in the past. Now they have a big reason to comply.

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