TROY, MI -- Delphi has announced that two of its subsidiaries have entered into an asset sale and purchase agreement with Robert Bosch LLC and its affiliate Frenados Mexicanos, S.A. de C.V., for the sale of their brake components business, including a manufacturing plant in Saltillo, Mexico.

The company filed a motion on Friday with the U.S. Bankruptcy Court for the Southern District of New York to request a bidding procedures hearing on June 26.

Following the completion of the bidding procedure process, a final sale hearing is anticipated to be set for July 19. The final sale of the plant is subject to the approval of the U.S. Bankruptcy Court.

As outlined in the court filing, the $15 million asset sale and purchase agreement between Delphi and Bosch includes the purchase of land, the transfer of facility lease, machinery and equipment and the assignment and assumption of certain contracts.