Beijing Jingxi Heavy Industry Co., Ltd. has applied for the acquisition of the brake and suspension systems and related assets of Delphi Corporation, which was officially approved by the American Foreign Investment Committee (CFIUS) on August 5 local time. At the same time, the Chinese government has accepted Jingxi Heavy Industry’s application for the acquisition of the above two businesses and related assets.

Jingxi Heavy Industry is an auto parts manufacturer jointly established by Shougang Corporation, Beijing Fangshan State-owned Assets Management Co., Ltd., and Baoan Investment Development Co., Ltd. Delphi Corporation, one of the world's largest suppliers of automotive parts, was dismantled from General Motors in 1999. Its brakes and suspension systems have annual sales of 600 million to 700 million U.S. dollars.

It is reported that after the completion of the acquisition, Jingxi Heavy Industry will not only own the two systems of braking and suspension affiliated to Delphi Corporation, but also include all business and related assets including intellectual property rights. The relevant person in charge of Shougang stated that after obtaining the approval of the Chinese government, BWI will maintain and develop the original Delphi R&D and production of the above two businesses in the United States, France, the United Kingdom, Poland, China, Mexico, India, and other countries. Integrate high-quality resources for auto parts industry at home and abroad. On this basis, BWI will continue to cooperate with internationally renowned automobile manufacturers and Chinese automobile independent brand manufacturers in an effort to build BJ West into a world-class automotive parts manufacturing company.

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