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Delphi selling Assets
Delphi to sell North American safety assets to Sweden’s Autoliv
Posted on Tuesday, November 17th, 2009 at 12:21 PM EST. (Employee News)
Delphi is selling its North American air bag, seat belt and steering wheel assets to Autoliv Inc., the world’s No. 1 seat belt and air bag maker, the Automotive News reported. Terms of the deal were not announced.
Autoliv said in a statement the assets included Delphi’s steering wheel operations in Matamoros, Mexico, as well as its North American air bag and seat belt assets, which would be consolidated into existing Autoliv facilities, the trade publication said. The transition is expected to occur during the next several months, the company said, the Automotive News reported.
The Sweden-based supplier did not disclose the financial details of the deal, but said it expected sales at the units, which supply General Motors Co., Hyundai Motor Co. and Ford Motor Co., to total $125 million next year, the paper said. The transaction was expected to close by Dec. 31, Autoliv officials said in the said. (Automotive News)
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Rick
Nitro Year: 2007 (1 of 113,000 sold)
Nitro Model: R/T 4X4 Stone White
CAT-BACK Exhaust, CAI, Projector Head Lamps
Fully-Equipped w/all factory options
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