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Delphi buying back shares; no change in Lockport

by TSchmitt
Fri, Apr 1st 2011 06:55 am

Although Delphi is buying back stakes of its ownership from its parent company for more than $4 billion, plant officials insist it won't have any effect on the Lockport facility.

Delphi is has seen significant growth recently and will buy the shares from General Motors for $3.8 billion while adding $594 million to a pension fund for retirees.

GM paid $1.7 billion for the stake in Delphi back in 2009.

 

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