Delphi talking with GM about possible sale of U.S. plants

By Caroline Salls

Pittsburgh, Feb. 17 - Delphi Corp. said it has been engaged in extensive talks with General Motors Corp. regarding issues related to Delphi's potential emergence from Chapter 11 bankruptcy, including a possible sale of some of Delphi's U.S. manufacturing facilities to GM, according to a company news release.

Delphi said it remains focused on emerging from Chapter 11 as soon as possible and maximizing return for its stakeholders and preserving accumulated pension benefits for employees.

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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