Delphi exploring strategic sale options for interiors businesses

By Jennifer Lanning Drey

Eugene, Ore., July 25 - Delphi Corp. has retained Rothschild Inc. to explore a potential sale of its Cockpits & Interior Systems and Integrated Closure Systems businesses, according to a company news release.

The company said any sale or strategic alternative would be conducted in coordination with its customers, unions and other stakeholders.

In addition, the disposition of any U.S. operations would be accomplished in accordance with the requirements of the U.S. Bankruptcy Court, according to the release.

Delphi also said it would also begin consultations with the European Works Council in accordance with applicable laws.

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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