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Delphi Retains Rothschild To Explore Strategic Sale Options For Interiors Businesses

Delphi Corporation has announced it has retained Rothschild Inc. to explore potential sale opportunities for Delphi’s Cockpits & Interior Systems and Integrated Closure Systems businesses.

Delphi’s Cockpits & Interior Systems business line is the third-largest producer of instrument panels, consoles and cockpits in North America and the fourth-largest globally. The business has provided industry-leading design, development and manufacturing services since 1956. The business currently supports several high-volume North American OEM platforms.

Integrated Closure Systems consists of the Door Modules and Latch business lines. The Latch business line holds a top-three market share and is a technology leader in the industry with a global presence. The Latch business line has produced latches since 1946, including the Mini-Wedge, currently the best-selling latch globally. The Door Modules business line has built strong relationships with multiple OEMs by focusing on high-content, system- engineered and integrated door systems. Since 1980, the Door Module business line has supported more than 29 vehicle programs and produced more than 30 million door systems.

Each of the Instrument Panels, Cockpits, Latch and Door Modules business lines is distinguished by its ability to work with customers from materials research, engineering, design validation and safety testing, design integration, production, and control and logistics, all driven by world-class engineering teams.

Any sale or strategic alternative will be conducted in coordination with the company’s customers, unions, and other stakeholders to carefully manage the transition of affected product lines. Also, the disposition of any U.S. operations would be accomplished in accordance with the requirements of the U.S. Bankruptcy Court. The company would also begin consultations with the European Works Council in accordance with applicable laws.

Any parties interested in Delphi’s Cockpits & Interior Systems and Integrated Closure Systems businesses should contact Michael Barr, Managing Director, Rothschild Inc. at 212.403.3737.

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Thu. July 9th, 2020

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AUTOMOTIVE INDUSTRIES

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