Delphi gets court OK for $17 million sale of exhaust emission unit

By Rebecca Melvin

New York, Dec. 17 - Delphi Corp. obtained approval for the sale of its exhaust emissions business for $17 million to stalking horse bidder Bienes Turgo SA de CV, according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of New York.

Delphi's global exhaust emissions business produces catalytic converters and related assemblies that are sold globally and used in a variety of gas and diesel emissions control applications.

In addition to the exhaust business, the sale also includes a 40% interest in the Katcon joint venture and a 100% interest in Delphi South Africa (Proprietary) Ltd.

Delphi, a Troy, Mich.-based automotive electronics manufacturer, filed for bankruptcy on Oct. 8, 2005. Its Chapter 11 case number is 05-44481.

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