China's BWI signs deal with Delphi

The Beijing West Industries Group of China, has signed deals with the American auto parts producer, Delphi Corporation. The 100 million US dollar agreement includes the acquisition of Delphi's Ride Dynamics and Brakes unit.

The two companies signed the deal on Monday in Detroit. Delphi's Ride Dynamics and Brakes unit, was a premier supplier of automotive products around the world. It now has about 3 thousand workers in the United States, Poland, China and Europe. The Beijing West Industries Group said it will continue Delphi Corporation's strategy and expand on it.

Fang Jianyi, Chairman of Beijing West Industries Group said "We will not only adopt the technology, we will also promote it. We will try to maintain a good performance, make the company profitable and ensure it has a better future. "

Fred Bellar, CFO of Delphi Automotive Holding Group said "All companies whether they are American companies or European companies recognize the large potential in the Chinese market..."

The acquired business units are headquartered in Dayton, Ohio. The city has a long-standing tradition of innovation and industrial development. Beijing West Industries says it will keep the management team intact, and plans to set up an auto parts producing center in Beijing, to boost the local auto industry.