Alexa
  • Directory of Taiwan

Delphi to sell catalyst business to Belgian company Umicore for $55.6 million

Delphi to sell catalyst business to Belgian company Umicore for $55.6 million

Delphi Corp. is selling its automotive catalyst business to Belgian metals firm Umicore for $55.6 million (euro41.1 million), the bankrupt auto parts maker said Wednesday.
Catalysts, with a metals-coated ceramic base, go inside a catalytic converter and are used to clean up auto emissions. Delphi had previously decided to sell that unit as part of its restructuring program.
Delphi requested a bankruptcy hearing for August 16 to approve the sale, which would follow a June 26 hearing to set procedures for spinning off the business.
The sale is expected to close in the third quarter. Umicore will acquire manufacturing facilities in Tulsa, Oklahoma; Florange, France; and Port Elizabeth, South Africa as part of the deal. It will also hire "certain employees" of the catalyst business from Delphi.
Umicore has 17,000 employees worldwide.


Updated : 2021-10-20 11:46 GMT+08:00