Delphi Corporation has retained Rothschild Inc to explore potential sale opportunities for the components company’s Cockpits & Interior Systems and Integrated Closure Systems businesses.
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Delphi’s Cockpits & Interior Systems business line is the third-largest producer of instrument panels, consoles and cockpits in North America and the fourth-largest globally.
Integrated Closure Systems consists of the Door Modules and Latch business lines.
“Any sale or strategic alternative will be conducted in coordination with the company’s customers, unions, and other stakeholders to carefully manage the transition of affected product lines,” Delphi said in a statement.
Earlier this month Delphi reported a Q4 2005 loss of $US828m, including $589m of non-cash impairment charges related to long-lived assets, goodwill and intangible assets, that was nonetheless well up on the $4.9bn loss a year ago.
The net loss for the full year of $2.4bn, including $629m of non-cash impairment charges related to long-lived assets, goodwill and intangible assets compared to 2004’s net loss of $4.8bn.
This reflected revenue decreases and related pricing pressures stemming from a substantial reduction in GM’s North American vehicle production, coupled with continued increased commodity costs, the company said in a statement.
Fourth quarter revenue of $6.8bn was down from $7.0bn in 2004.
