Home / Business / Auto Tools: Save | Print | E-mail | Most Read | Comment
Domestic firms eye Delphi
Adjust font size:

The Beijing municipal government is reportedly organizing local automobile companies to form a consortium to acquire ailing US automobile parts maker Delphi, 21st Century Business Herald reported Wednesday.

Beijing Automotive Industry Holding Corp (BAIC) and some local privately owned companies might buy part of the assets of Delphi, it said citing an unnamed insider with knowledge of the development.

Beijing Hainanchuan Automotive Parts Co Ltd, partly owned by the government-backed BAIC and private-owned Tianbao Group, is reportedly involved in the negotiation.

The insider said the alliance was in talks with Delphi, which filed for bankruptcy protection in 2005, to buy its non-core businesses including the brakes system and suspensions divisions.

"If conditions permit, we won't rule out the possibility of bidding for the entire assets of Delphi," the report quoted the insider as saying. "Any Delphi assets are helpful for us as its technologies are at least 15 years ahead of local companies."

"Delphi continues to have discussions with potential purchasers for the remaining portions of the non-core businesses in order to complete the portfolio transformation that was announced in 2006," the parts supplier told China Daily in an email statement.

The negotiation has not yet resulted in any agreement, the report said.

(China Daily March 19, 2009)

Tools: Save | Print | E-mail | Most Read
Pet Name
China Archives
Related >>
- Delphi Suspends work at Suzhou factory
- Delphi to Build New Half-shaft Plant

Mar.20, Shanghai Lipper Funds Awards
Mar.21-22, Beijing Anti-monopoly Law Symposium
Mar.27, Beijing The 4th Annual China Fund Summit
Apr.11-12, Beijing The Fifth (2008) 'Gold Prize of Round table'of Chinese Boards of Listed Company
Apr.20-23, Beijing Green Transformation: Forcast New Business Culture

- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?