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Chinese group buys Delphi Corp. brake unit BEIJING -- A Chinese investment group led by state-owned steel maker Shougang Group said Tuesday it has bought U.S.-based Delphi Corp.'s brake and suspension unit for about US$100 million. The purchase by BeijingWest Industries Group adds to a string of Chinese acquisitions abroad amid the global economic crisis. Delphi, based in Troy, Michigan, is reorganizing under bankruptcy court protection from creditors. The sale includes operations in the United States, Poland, France, Britain, Mexico and China that employ about 3,000 people, BeijingWest said. |
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