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Article: CHINESE STEEL GROUP INKS DEAL TO BUY DELPHI'S BRAKE UNIT.
- Article from:
- AsiaPulse News
- Article date:
- November 5, 2009
CopyrightCOPYRIGHT 2009 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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BEIJING, Nov 5 Asia Pulse - A joint venture partly owned by leading Chinese steelmaker Shougang Group (SSE:601088) has signed an agreement to purchase the brake and suspension business of U.S. autoparts maker Delphi Corp., according to local media.
The deal was initially estimated at US$100 million, but "it does not even reach US$90 million at the most," says an official of the joint venture, BeijingWest Industries Co.
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