Automotive Industry
Industry: Email Alert RSS FeedDelphi wants to sell non-core assets to support r&d; Acquisitions put on hold by supplier.(Suppliers)
Automotive News Europe, April, 2005 by Saint-Seine, Sylviane de
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Byline: Sylviane de Saint-Seine
Delphi Corp. will quicken the sale of non-core assets and halt acquisitions so it can maintain spending for engineering and research and development, says CEO J.T. Battenberg III.
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The world's No. 2 supplier is selling its non-US automotive lead battery business to Johnson Controls for $212.5 million ([euro]165 million) in an effort to raise up to $400 million from asset disposals by the end of the first half. In Paris to inaugurate Delphi's new European headquarters, Battenberg said a similar-sized asset disposal is in "preliminary ...
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