Akebono Buys Delphi Stake in Brake Venture

Akebono Brake Industry Co. is buying out Delphi Corp.’s equity in Ambrake Corp.
The company is a 50:50 venture launched by Akebono and General Motors Corp. in 1986, according the Japanese media reports.
Delphi acquired its stake in Ambrake when it was spun off from GM in 1999. The venture supplies GM, Honda and Toyota plants in North America. Last year it posted nearly $330 million U.S. in sales and a net profit of $24 million U.S.