Delphi Automotive Systems Corp. has reached an agreement to buy the AP Distribution Services business of AP Group Limited for about $65 million cash.
APDS, a leading European distributor of aftermarket products for commercial vehicles and passenger cars, manufactures and markets chassis and driveline components under the AP Lockheed and AP Borg & Beck brands. It will be renamed Delphi Lockheed Automotive and will be integrated into Delphi's Aftermarket Operations division.
ADPS has annual sales of $175 million and employs over 700 people in 5 countries.
Delphi is targeting European aftermarket sales of about $500 million this year, up from $200 million last year, Delphi Europe President Jose Maria Alapont told the Dow Jones Newswires. The addition of ADPS plus the recent acqusition of TRW's Lucas Diesel Systems and related aftermarket business pushes them toward that goal. Delphi formed the aftermarket division last October.
APDS, a leading European distributor of aftermarket products for commercial vehicles and passenger cars, manufactures and markets chassis and driveline components under the AP Lockheed and AP Borg & Beck brands. It will be renamed Delphi Lockheed Automotive and will be integrated into Delphi's Aftermarket Operations division.
ADPS has annual sales of $175 million and employs over 700 people in 5 countries.
Delphi is targeting European aftermarket sales of about $500 million this year, up from $200 million last year, Delphi Europe President Jose Maria Alapont told the Dow Jones Newswires. The addition of ADPS plus the recent acqusition of TRW's Lucas Diesel Systems and related aftermarket business pushes them toward that goal. Delphi formed the aftermarket division last October.
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