a consortium consisting of Tempo Group, Capital Iron & Steel Co. and the Beijing government will own Beijing West Industries Co. Ltd,.
The Chinese firm is acquiring all remaining equipment, property and intellectual property. Assignment and assumption of certain customer and supplier contracts will also transfer to Beijing West.
Delphi say the sale will close during the fourth quarter of 2009, and that the brakes and suspension business is one of the non-core product lines that no longer fits into the company’s future strategic framework and could become more profitable and competitive as standalone businesses or as part of another organization.
