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Article: China : Companies at a glance, Auto parts deal.
- Article from:
- TendersInfo
- Article date:
- November 9, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) 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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Byline: Mamta03
Beijing West Industries Group, a Chinese investment company led by State-owned steelmaker Shougang Group, said it bought US auto parts giant Delphi Corp's brake and suspension unit for about $100 million.
Delphi is reorganizing under bankruptcy court protection from creditors. The sale includes brakes and suspension businesses in the United States, Poland, France, Britain, Mexico and China that employ about 3,000 people, BeijingWest said.
"This purchase will allow BeijingWest Industries to enter the premium auto chassis market," Beijing West Chairman Fang Jianyi said in a statement.
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