Delphi Receives Court Approval to Sell Global Exhaust Business - aftermarketNews

Delphi Receives Court Approval to Sell Global Exhaust Business

Mexican investment firm selected as lead bidder for the business.

AUBURN HILLS, Mich. — Delphi has received approval from the U.S. Bankruptcy Court for the Southern District of New York to sell the assets of its global exhaust business to Bienes Turgon for $17 million, subject to adjustments. Bienes Turgon is a private investment firm based in Mexico.

"Delphi’s sale of its global exhaust business is a significant, meaningful step as the company progresses with ongoing corporate and divisional transformation plans," said Ron Pirtle, president, Delphi Powertrain Systems. "This move further refines our powertrain product portfolio to feature core, differentiated technologies in which Delphi possesses competitive advantages and for which customers are calling."

As previously announced, Delphi selected Bienes Turgon as the lead bidder and received court approval to proceed with the sale process for the global exhaust business.

Delphi said it will carefully manage the transition of the business, and the sale will be completed in coordination with Delphi’s customers, suppliers, employees, unions and other stakeholders. The transaction is expected to close during the first half of 2009.

Although the company is divesting its exhaust business, Delphi Powertrain continues to provide full engine management systems (EMS) — including air and fuel management, combustion and valvetrain technology — through its gas EMS product business unit.

You May Also Like

Gentex to Open Production Facility in Grand Rapids

Gentex says it continues to implement meaningful solutions to the ongoing labor shortage.

Zeeland, Michigan-based Gentex Corp. announced today that it plans to open a satellite production facility that will bring 50 new jobs to the Madison Square neighborhood of Grand Rapids, Michigan. By expanding its manufacturing footprint, Gentex says it hopes to boost its employee base and provide greater access to well-paying jobs as it continues to implement meaningful solutions to address the ongoing labor shortage.

Dana Offers Spicer End Yokes for Allison Transmissions

The end yokes are designed to help minimize noise and vibration and keep drivelines running smoothly.

BorgWarner Included in 2023 Bloomberg Gender-Equality Index

The index measures gender equality across equal pay and gender pay parity, leadership and talent pipeline, inclusive culture and more.

New Bosch Campaign Focuses on Night Performance Wiper Blades

Bosch FOCUS and ENVISION wiper blades are designed to make nighttime driving safer in inclement weather, the company says.

US Motor Works Releases 9 New Water Pumps

The latest nine new water pumps are now in stock and ready to order.

Other Posts

NGK Spark Plugs Announces New Company Name and Logo 

The company says the name change is reflective of transformation in the organization’s business portfolio.

AP Emissions Releases January New Part Number Update

Coverage available for Dodge, Chrysler, Ford, Land Rover, Toyota, Lexus, Mazda and Mercedes-Benz vehicles.

NRS Brakes Offers Galvanized Brake Pads for F-150 Lightning

The brake kits cover both front and rear applications for almost 1.6 million vehicles.

Raybestos Adds New Friction, Rotor, Hydraulics Coverage

The new part numbers cover more than 19 million vehicles in operation (VIO).