Delphi completes sale of global exhaust business to Bienes Turgon

By Caroline Salls

Pittsburgh, April 30 - Delphi Corp. said it has finalized the $17 million sale of the assets and shares related to its global exhaust business to Mexico-based Bienes Turgon, according to a company news release.

According to the release, the global exhaust business includes assets in Blonie, Poland; Clayton, Australia; Port Elizabeth, South Africa; joint venture interests in Monterrey, Mexico; and technical centers in Auburn Hills, Mich., and Bascharage, Luxembourg.

Bienes Turgon will officially begin operation of the business on May 1 under the name Katcon Global.

As part of this transaction, the sale of assets from Delphi's remaining two global exhaust business locations in Gurgaon, India, and Shanghai to Bienes Turgon is expected to close during the second half of 2009.

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

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