Dearborn,(Michigan) Feb 23: General Motors Corp will announce a deal for the sale of $1.2-billion-a-year vehicle seat business later this week, the automaker's top parts executive said on Sunday.JT Battenberg, president of GM's Delphi Automotive Systems unit, said the auto giant has narrowed a field of over 41 bidders for the business down to a single entity, which he declined to identify. Final negotiations are now underway, he said.
``We made a selection and we'll be announcing it within days,'' Battenberg told reporters at a reception on Sunday night for the Society of Automotive Engineers convention.
Delphi last year put the 7,000-employee seating business up for sale along with two other parts businesses -- coil springs and lighting systems -- as part of its ongoing effort to identify and shed non-core assets.
On Friday, GM said that it had agreed to sell the coil spring business to the Dallas-based Walton Johnson Group for an undisclosed price.
Walton-Johnson, a minority- owned investmentfirm formed in 1990, said it intends to close a plant in Flint, Michigan, and consolidate spring production at another plant in the Detroit suburb of Livonia, Michigan.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
