Delphi to Sell Brake, Suspension Unit to Chinese Firm

Delphi Corp. has agreed to its global suspension and brake business to Chinese firm BeijingWest Industries Co., Bloomberg reported Tuesday.

Terms were not released for the deal in which Delphi, the bankrupt former parts subsidiary of General Motors Corp., will sell the unit, Bloomberg said.

The transaction should be completed in the fourth quarter, Delphi said in a statement.

Delphi is shedding assets while it tries to obtain financing to leave bankruptcy protection, Bloomberg said.

The brake and suspension unit employs 3,000 and has facilities in Poland, China, Mexico, France and the United States.