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Delphi gets court OK of $90 million brakes and ride dynamics sale
By Jennifer Lanning Drey
Portland, Ore., May 21 - Delphi Corp. obtained court approval of the $90 million sale of its brakes and ride dynamics businesses to Beijing West Industries Co. Ltd., according to a Wednesday filing with the U.S. Bankruptcy Court for the Southern District of New York.
As previously reported, both businesses have operations in the United States and overseas, with the majority of employees for both divisions residing overseas.
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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