Beijing Auto may buy Delphi auto-parts assets

Shanghai, March 18 (Gasgoo.com) A source from Beijing Automotive Industry Holding Corp said that the company might buy part of the assets of the auto-parts giant Delphi or bid for complete assets of it, the 21st Century Business Herald reported on Wednesday.

The unnamed source said Beijing Auto are in talks with Delphi on buying part assets of the spare parts maker, which was reportedly in the process of chopping its non-core businesses, such as brakes and suspensions.

"If conditions permit, we does not rule out the possibility of acquiring Delphi," the newspaper citing the source who took part in the negotiations as saying.

The aim was to acquire production facilities and technology to build up Beijing Auto's strength in the auto parts sector.

Beijing Hainachuan Automotive Parts Co, Beijing Auto's subsidiary company, has also participated in the negotiations.

"But no decision has been made yet," said the source, adding that many automakers are contacting Delphi on the matter.

Late last month Beijing Auto was reported to have held talks with Chrysler on buying the U.S. auto giant's assets and technology, but the Chinese automaker has since denied the report.