DETROIT -- Delphi Corp. said Monday that it has retained investment firm Rothschild Inc. to explore the sale of two of its oldest and largest business units.
The auto parts supplier, which is restructuring under Chapter 11 bankruptcy protection, will work with Rothschild's New York office as it considers selling its cockpits and interior systems business and its integrated closure systems unit.
The two divisions have 11 global sites, including six in the United States, Delphi spokesman Brad Jackson said. He would not disclose their sales or employment figures. The units were identified in March as part of Delphi's noncore product lines.
The cockpit and interior line dates to 1956 and is the third largest producer of instrument panels, consoles and cockpits in North America. Delphi says the line ranks fourth globally.
The supplier's integrated closure systems unit makes door modules and latches.
The door modules operations began in 1980 and have made more than 30 million door systems. The latch business was started in 1946 and makes a unit called the Mini-Wedge, which Delphi says is the best-selling latch globally.
Rothschild has offices around the world. It specializes in investment banking, restructuring, asset management and real estate.
Delphi filed for bankruptcy last October.
The Troy, Mich., supplier ranks No. 4 on the Automotive News list of the top 100 global suppliers with estimated worldwide original-equipment automotive parts sales of $22.59 billion in 2005. Delphi supplies steering, chassis, electrical, energy and engine management; thermal management; interiors; electronic components; and in-vehicle entertainment systems.
You may e-mail Greg Migliore at [email protected]