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Article: Shougang subsidiary buys Delphi Corp. brake unit.
- Article from:
- China Business News
- Article date:
- November 4, 2009
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Shougang subsidiary buys Delphi Corp. brake unit
Shanghai. November 4. INTERFAX-CHINA - BeijingWest Industries Co., a subsidiary of Shoudu Iron and Steel Group (Shougang), has acquired U.S.- based Delphi Corp.'s brake and suspension unit for nearly $100 million, according to a state media report on Nov. 4.
The formal sales agreement was signed on Nov. 2 in Detroit, United States, and it is the biggest overseas acquisition by a Chinese company so far in the field of automotive parts, Xinhua news agency reported.