MILWAUKEE — Delphi Corp. will sell its power products division to Strattec Security Corp., according to a recent report from the Associated Press. According to the report, Delphi will sell the division, which makes automobile locks, to Strattec for $7.8 million.
As part of the purchase, Strattec will acquire the division’s operations in North America, while Germany’s Witte Automotive will take the European part. Vehicle Access Systems Technology LLC, a joint venture of Strattec, Witte and Grand Rapids, Mich.-based Adac Automotive, will acquire the Asian portion.
Strattec expects the acquisition to close by the end of the year.
