Delphi sets up $40 mln China auto parts venture

Newswire

SHANGHAI, Dec 20 (Reuters) - Bankrupt U.S. auto parts maker Delphi Corp. said on Wednesday it will set up a $40 million auto parts venture in China with a local company to boost sales in the country's fast-growing market. Delphi will hold 60 percent of the half-shaft manufacturing company in the eastern Chinese province of Anhui, its second such venture with China's Hebei Lingyun Industrial Group, it said in a statement. Lingyun will own the remaining 40 percent. The venture, which will ...

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