www.chinabuses.org: News from Delphi Corporation shows that it has agreed to sell its remaining global suspension and brakes businesses to China's Beijing West Industries Co Ltd. This plan is only one phase of the Delphi's whole restructuring process. Currently, Delphi has made further progress with its portfolio transformation and has entered into an asset sale and purchase agreement with Beijing West Industries.

Beijing West Industries is 51 percent owned by State-owned Shougang Group. Bao'an Investment and Development Co Ltd hold 24 percent in the company and the Beijing municipal government possesses the rest. Delphi says it will carefully manage the transition of the business, including its customers, employees, unions and other stakeholders.

Source : www.chinabuses.org

Editor : Wei Yu

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Tags: Delphi Corporation Restructuring