It is reported that Beijing Jingxi Heavy Industrial Ltd signed an agreement on local November 2nd in Detroit with Delphi Corporation for acquiring its brake and suspension business.

This move is the success of China biggest acquiring of overseas auto parts and components business and also a sign that the China novice in this field has mounted into the high end market of chassis components over the world.

As per report, the newly established company after the acquiring will take over the involved production bases and technology centers of Delphe located in the United States, Poland and France and will continue serving global top auto producers like BMW, Audi and Ferrairi. And the former management team will be maintained and the head office will still be set at Dayton in Ohio.

Jingxi plans to take good use of the acquired technology and talents to build a world-class auto parts and components production and processing base in Beijing, to promote the development of auto industry in this area.

Jingxi was funded by three bodies, 51% of its stake held by Shougang Group, another 25% by Beijing Fangshan district government and the remaining 24% owned by Baoan Investment and Development Co.