Delphi looks to sell global exhaust business

By Caroline Salls

Pittsburgh, June 27 - Delphi Corp. is seeking buyers for its global exhaust business as part of its transformation plan, according to a company news release.

Delphi said the global exhaust business designs and manufactures the exhaust system front exhaust module, including catalytic converters and exhaust manifolds.

The business serves more than 10 major customers and includes sites in Blonie, Poland; Clayton, Australia; Gurgaon, India; and Port Elizabeth, South Africa; as well as joint venture interests in Shanghai, China, and Monterrey, Mexico; and technical centers in Auburn Hills and Flint, Mich., and Bascharage, Luxembourg.

Although it plans to sell the exhaust business, the company said it will continue to provide full engine management systems, including air and fuel management and combustion and valve-train technology.

In addition, Delphi said its non-equity based alliance with Belgium-based Bosal Group to offer complete exhaust systems will be terminated in connection with the sale.

Pending court approval, Delphi said it will hire global mid-market investment bank Lincoln International to explore sale opportunities.

Delphi, a Troy, Mich.-based automotive electronics manufacturer, filed for bankruptcy on Oct. 8, 2005 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 05-44481.

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