Delphi Spins Off Composite Spring Business.(Delphi Automotive Systems divests spring business to Liteflex L.L.C.)(Brief Article)

Delphi Automotive Systems said that it has sold its Liteflex composite spring business to newly formed Dayton, Ohio based Liteflex LLC, in conjunction with the National Composite Center. Financial terms of the transaction were not disclosed.

The Liteflex composite spring business, based in Dayton, manufactures leaf springs for original equipment manufacturers and the aftermarket and had 2000 sales of approximately $10 million, according to Delphi.

Liteflex composite springs are made of fiber reinforced epoxy and used in the front and rear suspension system of a vehicle to provide ride and handling comfort. Liteflex springs are produced for the passenger vehicle market, as well as the light-duty and heavy-duty commercial vehicle markets, Delphi said.

Delphi announced its intent to sell the global Liteflex composite spring business in February 2001 after determining the product line to be outside of the company's future product strategies. "This sale will further strengthen our main line automotive products and improve the competitiveness of our core business by allowing us to focus on our long-term strategic direction," said Guy C. Hachey, president, Delphi Energy & Chassis Systems.

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