Tempo Group
Tempo Group is a Chinese auto parts supplier in brakes, shocks, control arms and other automotive chassis parts and components.[1] Its main manufacturing operations are in China. The company has also operated since the late 1990s in North America where it maintains a sales presence and has an equity stake of 24% in the former chassis business of Delphi Automotive.[1]
Acquisitions
In 2009 it participated in a consortium that included the government of the Fangshan District of Beijing and Shougang Corporation to acquire the bankrupt chassis and brakes business of Delphi Automotive.[2]
Later it participated in another consortium with E-Town, an economic development agency of Beijing, to acquire Nexteer from General Motors for $450 million.[3]
References
- ^ a b "China's BWI completes acquisition of Delphi's Ride Dynamics and Brakes business". Xinhua. November 2, 2009.
- ^ "Delphi To Sell Brakes Biz To Chinese Co. For $100M". Law 360. March 31, 2009.
- ^ "China Shops in the U.S. For Auto Parts Makers". Forbes. November 11, 2010.