Delphi exits two ventures

DETROIT - Delphi Automotive Systems Corp. sold its stake in two of its Chinese joint ventures, Tianjin Delphi Suspension Systems Co. and Saginaw Steering Xiaoshan Steering Gear Co. Ltd. The partnerships had combined 2000 sales of $14.2 million.

Terms of the deals were undisclosed.

Delphi, of Troy, Mich., sold its 55 percent equity stake in the Tianjin venture to Kangtai International Trade Co. Delphi formed this joint venture in 1997 with Tianjin Municipal Shock Absorber Co. to supply suspension dampers for the Chinese market.

Delphi sold its 60 percent stake in the Saginaw Steering joint venture to Zhejiang Wanda Steering Gear Ltd. That joint venture was formed in 1996.

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