NEW YORK (AP) -- Delphi Corp. says it will sell its remaining suspension and brakes business to China's BeijingWest Industries Co. as part of the auto parts supplier's restructuring efforts.
Delphi said Tuesday that BeijingWest will acquire equipment, property and intellectual property in the deal, but did not disclose the price.
The Troy, Mich.-based company is the former parts unit of General Motors Corp. and has been operating under Chapter 11 bankruptcy protection since 2005.
The court must approve the deal. Delphi says it will request a hearing on April 23 to approve a bidding process for the unit. It hopes to complete the deal in the fourth quarter.
Delphi says its suspension and brakes business employs about 3,000 people in North America, China and Europe.
