Indian Auto firms show interest in Delphi
Facebook Twitter google+ RSS Feed

Indian Auto firms show interest in Delphi

By agencies   |   Thursday, 24 November 2005, 08:00 Hrs
Printer Print Email Email
MUMBAI: A group of Indian auto parts makers have shown keen interest in buying some businesses of the bankrupt U.S. company Delphi. Amtek Auto, Krishna Maruti, Bharat Forge, Rico Auto and Sona Steering are looking to purchase certain Delphi Divisions. They are planning to make their final moves now.

The $29 billion Delphi filed for Chapter 11 bankruptcy last month and is focusing on selling its non-core assets worth $400-$500 million in 2005 and instead concentrate on profitable operations. Deals are at the initiation level right now.

Sona Steering is keen to purchase DelphiÂ’s steering systems; Amtek and Bharat Forge are interested in the forging, machining and casting businesses. Krishna Maruti is looking at the seating and door trims business. Goldman Sachs is believed to be working for Amtek Auto while ABN Amro was advising Sona Steering though independent confirmation is not available.

Industry sources have revealed that Amtek Auto, Sona Steering and Krishna Maruti have sent teams to the U.S. to visit some of the locations.

Experts on SiliconIndia
Santhosh  K
Sr. Soft. Engg.
Oracle India
Nehal Vyas
Sr. Team Lead
Cyberoam Tech.
Rani Malli
Sr. Director
Sr. Executive
Vijay Balkrishna Konduskar
Business Consultant
Imans Web Tech
Dr L P  Sharma
Technical Director
Reena Khanna
Dellas  Asse
sys-network admin
Computer Station
Write your comment now
Submit Reset