Delphi Invests $12.4 Million in Mexican Automotive Suspension Venture
31 March 1999
Delphi Invests $12.4 Million in Mexican Automotive Suspension VentureTROY, Mich., March 30 -- Delphi Automotive Systems today announced they are increasing their penetration into the automotive aftermarket business by investing $US 12.4 million in Gabriel de Mexico S.A. de C.V., a Mexican automotive damper and suspension module manufacturer. With this investment, Delphi will obtain a 40% interest in the company. Condumex will continue to hold a 60% interest in the business. Gabriel de Mexico currently supplies Mexican DaimlerChrysler and Ford assembly plants, as well as a significant portion of the Mexican aftermarket. "This investment is consistent with Delphi's strategy to globally grow our non-GM and aftermarket business," said J.T. Battenberg III, chairman, chief executive officer and president of Delphi. "Gabriel de Mexico has a reputation as a reliable supplier of quality suspension modules and components and we are pleased to be associated with them." Gabriel de Mexico is located in Mexico City and currently employs approximately 325 hourly and salary workers. Delphi Automotive Systems, with headquarters in Troy, Mich., USA, is a world leader in automotive component and systems technology. Delphi's three business sectors -- Dynamics & Propulsion; Safety, Thermal & Electrical Architecture; and Electronics & Mobile Communications -- provide comprehensive product solutions to complex customer needs. Delphi has more than 200,000 employees and operates 168 wholly-owned manufacturing sites, 40 joint ventures and 27 technical centers in 36 countries. Regional headquarters are located in Paris, Tokyo and Sao Paulo. Delphi can be found on the Internet at http://www.delphiauto.com.