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US approves China company's acquisition of Delphi biz

(Xinhua)
Updated: 2009-08-08 03:54

BEIJING: The Committee on Foreign Investment in the United States has formally approved the acquisition of Delphi's global production of braking systems and suspension parts by a Chinese company.

Related readings:  BeijingWest nets control of Delphi's key units  Domestic firms eye Delphi  Delphi still committed to China  Delphi opens technical center in Shanghai

The acquisition by Beijingwest Industries Co. is to get approval from the Chinese government.

Beijingwest will maintain and develop the R&D and production of the two businesses and optimize domestic and overseas auto parts resources.