China: Delphi forms joint venture to produce half-shafts

摘要

IN a move aimed at boosting sales in China, bankrupt automotive components supplier Delphi is establishing a half-shaft manufacturing joint venture with China's Hebei Lingyun Industrial Group. The new joint venture, Saginaw Lingyun Driveshaft, is expected to set up its manufacturing facility in Anhui province, in eastern China, at an estimated investment of about US$40m. Delphi will have a 60% stake in the joint venture, while the remainder will be held by Lingyun Group. Delphi expects the joint venture to create 500 jobs, with operations scheduled to commence by mid-2008.