Garrett Motion Exploring Options Including Sale

Garrett Motion Inc., a maker of turbochargers and other automotive equipment, is exploring strategic options including a sale, Bloomberg News reported. The Rolle, Switzerland-based company is working with an adviser on a possible sale. Garrett is expected to attract interest from companies looking to enhance their electric-vehicle operations. Garrett, originally known as Honeywell Transportation Systems, was spun off in 2018. It filed for chapter 11 bankruptcy protection in 2020 after struggling with loan repayments. The company emerged from bankruptcy last year with the support of stakeholders including Centerbridge Partners and Oaktree Capital Management, according to a statement. Led by President and Chief Executive Officer Olivier Rabiller, Garrett makes turbo-charging systems for electrified vehicles. It generated about $3.6 billion in revenue in 2021. Read more.