Wanxiang Group Plan to Acquire some Businesses of Delphi
Resource from: cbcc-yinx Likes:3015
Dec 26,2005
It's reported that Wanxiang Group had announced their intention to acquire some businesses of Delphi, the world leader of automobile electronics, transportation components and systems technology.
Mr. Ni pin, president of Wangxiang(American) said that they are very interested in some of Delphi's operations, especially the overlaped mechanical steering operations. Negotiation about the operation acquistion is proceeding.
With the declining of sales in North America, Delphi had launched its restructuring plan earlier. It is said that a detail of this plan has been finished and spreaded inside the compnay for a long time and all core operations has been involved in. According to an anonymous from Delphi China, the company may sell its electronics, control systems, mechanical steering and power transmission operations.
To confirm the acquisition issue, some China medias contacted the Wanxiang and Delphi's China offices. However, both parties refused to give any answer to the issue.
At present, Wanxiang Group mainly deal with mechanical steering products, transmission shaft and other chassis parts. Mr. Ni said that if possible, they will purchase not only Delphi but other local auto parts manufacturers leaders to enhance their own competitive power. Detail of the other companies that Wanxiang also take interest in were temporarily kept secret.
According to the analysers: the mechanical steering operation which Wanxiang take great interest in is also the most profitable operation of Delphi in North America. So there is little possibility that Delphi would sell this operation to Wanxiang. And it will be a risk for Wanxiang to purchase other opertions that they are not good at.
In recent year, Wanxiang appeared more serious when taking some acquisition cases. Last year, they had given up the already both-parties-agreed acquisition case of XAB(Xiangyang Automobile Bearing Co.,Ltd).
Also there are some other China enterprises being interested in Delphi's operations, such as Shanghai Automobile Group etc. So we can't say who will win the acquisition now.
(cbcc-yinx)
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