Delphi has announced plans to sell its exhaust business to Mexican private investment firm Bienes Turgon for $17 million. The sale is barring any higher offers that may come up at a court supervised auction, according to a report from the Detroit Free Press. Bids are due Dec. 8 for the Dec. 11 auction.
The business, which has operations in Australia, China, India, Mexico, Poland and South Africa and employs about 300 workers, makes emissions-reducing catalytic converters. According to the Free Press report, court documents show that about two-thirds of the division’s sales are to Delphi’s former parent company, General Motors.