CHICAGO -- Auto parts manufacturer Delphi Corp. said Tuesday that it has entered into a deal to sell the remainder of its suspension and brakes business to Beijing West Industries Co., Ltd. for an undisclosed amount. BeijingWest will acquire machinery and equipment, intellectual property and certain real property. Assignment and assumption of certain customer and supplier contracts will also transfer to BeijingWest. Delphi will carefully manage the transition of the business, and the sale, is expected to close during the fourth quarter of 2009. Delphi plans to file a motion later Tuesday with the U.S. Bankruptcy Court for the Southern District of New York requesting a hearing on April 23 to approve bidding procedures, as well as a hearing on May 21 to authorizing and greenlight the sale of the assets.
Source: http://www.foxbusiness.com/story/markets/industries/transportation/delphi-sell-remainder-suspension-brakes-unit/ 
