Dearborn, MI - Today, Congressman John D. Dingell (D-MI15) and the Original Equipment Suppliers Association (OESA) hosted a roundtable discussion at the University of Michigan-Dearborn, with automotive suppliers and commercial lenders. The roundtable’s purpose was to allow suppliers to discuss their difficulties in securing private sources of capital and banks to talk about the systemic risk in the automotive sector, which has constrained lending particularly to automotive suppliers. Additionally, the roundtable’s participants, which included tier-1, -2, and -3 suppliers, commercial lenders, and representatives of the Governor of Michigan’s office and the Michigan Economic Development Corporation (MEDC), discussed potential private- and public-sector solutions to these issues. Congressman Dingell made the following remarks at the conclusion of the event:

“I feel that roundtable discussions such as these serve a very real benefit, in that they stimulate conversation among parties where otherwise there was none. Our discussion today was a good one and yielded to all involved a better understanding of suppliers’ needs and banks’ concerns about risk, as well as helpful suggestions for public- and private-sector initiatives to increase the flow of lending to suppliers. I hope to continue working with all the parties involved in today’s discussion to find methods by which to buttress suppliers, which are a critical component to automotive manufacturing and of the national economy as a whole.”

Neil De Koker, President and CEO of the Original Equipment Suppliers Association, added: “We appreciate Congressman Dingell’s continued leadership on issues facing automotive suppliers. The availability of credit and cost of money are significant hurdles for many automotive suppliers trying to meet short-term production needs and long-term restructuring opportunities. This dialog between the banks and suppliers helps address these critical issues currently impeding the largest U.S. manufacturing sector.”

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