Delphi hires banker to explore unit sale |
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Fri, 12 Jan 2007 00:34
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DAYTON, Ohio (AFX) - Delphi Corp. said Thursday it has hired a Detroit-based investment banker as an adviser to explore the sale of its business that makes mounts for engines and suspensions. The business employs a total of 700 workers -- 450 of them at a plant in Dayton.The Troy, Mich.-based auto-parts maker said it has retained W.Y. Campbell & Co. to look into sale opportunities.The business, which had estimated revenue of $160 million in 2006, has plants in Dayton, Oshawa, Canada; Chihuahua, Mexico; Noida, India; and Ponte de Sor, Portugal.The Dayton plant, which also makes brake hose, employs 350 hourly employees and 100 salaried workers.Delphi, which filed for Chapter 11 bankruptcy protection in October 2005, employs about 8,000 hourly workers in Ohio.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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