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Tenneco in deal to buy Delphi assets in Ohio

Mon Mar 10, 2008 10:15am EDT

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CHICAGO, March 10 (Reuters) - Auto parts maker Tenneco Inc (TEN.N) said on Monday that it would buy ride control assets and inventory at bankrupt Delphi Corp's DPHIQ.PK Kettering, Ohio facility.

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Lake Forest, Illinois-based Tenneco said it would pay approximately $10 million for ride control components inventory and roughly $9 million for machinery and equipment.

The purchase agreement has been filed with the bankruptcy court for the southern district of New York. The closing of the deal is subject to closing conditions including bankruptcy court approval, Tenneco said. (Reporting by Nick Carey, editing by Gerald E. McCormick)

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