performing all fabric weaving and finishing operations for airbag and seatbelt fabrics while SRS plants in Maryville and Greenville performed the cutting, sewing and final assembly of components. Which were then delivered to customers such as General Motors, Suzuki and Chrysler Corp. among others. In September 1999, BTI filed for Chapter 11 bankruptcy as a result of the massive debt it took on to acquire those companies, and the fiscal losses it faced in 1998. Renamed to Key Safety Systems In April 2003, BTI was bought by Carlyle Management Group (CMG) for between $300 and $315 million. CMG moved BTI's headquarters from Lakeland, Florida to Sterling Heights, Michigan. In September 2003, CMG announced that BTI would be renamed to Key Safety Systems (KSS). The name change was to show KSS's unification with CMG's other affiliates under the Key Automotive Group brand. KSS continued to operate under Key Automotive Group until it was acquired by the Chinese-based company, Ningbo Joyson Electronic Corporation (“Joyson Electronics”) in early 2016, for $920 million. The companies’ combined sales worldwide were equal to $3 billion at the time of the purchase. Takata acquisition In June 2017 Takata Corporation, an airbag manufacturer, filed for bankruptcy in the United States and Japan due to lawsuits and large product recalls for unsafe airbags (with faulty airbag inflators) which the company sold to major automotive manufacturers. KSS acquired the remaining Takata assets for about $1.6 billion. Renamed to Joyson Safety Systems Following the antitrust clearance and bankruptcy court approvals in various countries, on April 11, 2018, KSS announced the completion of its acquisition of Takata, and changed its name to Joyson Safety Systems. See also Autoliv Automobile safety Takata Corporation Vehicle safety technology ZF Friedrichshafen References External links Corporate website https://www.joyson.cn/ https://www.joysonsafety.com/ Vehicle safety technologies Auto parts suppliers of the United States Chrysler Ford Motor Company General Motors Honda Mazda Nissan Toyota 2003 mergers and acquisitions 2016 mergers and acquisitions 2018 mergers and acquisitions Multinational companies headquartered in the United States Multinational companies headquartered in China