Delphi Sells Oklahoma Unit To Belgain Company

Wednesday, June 6th 2007, 1:42 pm

By: News On 6

TROY, Mich. (AP) -- Bankrupt auto parts maker Delphi Corporation of Michigan said Wednesday it is selling its automotive catalyst business to Belgian metals firm Umicore for $55.6 million.

As part of the deal, Umicore will acquire manufacturing facilities in Tulsa, Oklahoma; Florange, France; and Port Elizabeth, South Africa. It will also hire "certain employees" of the catalyst business from Delphi.

Umicore has 17,000 employees worldwide.

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 16th to approve the sale, which would follow a June 26th hearing to set procedures for spinning off the business.