General Motors announced earlier today that it has retained Merrill Lynch to help in the sale of its aftermarket parts business, ACDelco. Sale of ACDelco would help GM raise much-needed cash for the company that burns through about $1 billion a month. Though no suitors have been named just yet, we expect to be able to report names to you soon.
ACDelco employs about 600 people worldwide and is based in Grand Blanc, Michigan. Combined with the sale of GM’s Hummer brand and a plant in Strasourg, France, GM hopes to raise $4 to $7 billion, though it hasn’t said just what it expects out of ACDelco.
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10/22, 2:59 PM
posted by:
Lariat Luxury Locomotive Liner No.3
Selling more of GM’s soul will not help save the corporation. Damn shame.
10/22, 3:11 PM
posted by:
Borat
The soul was sold long, long time ago. Then mortgaged and sold again.
10/22, 4:22 PM
posted by:
A4
is ACDelco and Delco the same thing?
10/22, 4:49 PM
posted by:
yarddog82abn
You know I once drove one of those Nascar trucks out in California Speed Way, they are DAM-FAST….
Until 31th lap out of 50, I got to turn 3 and the motor blow out… and ya it was a Chevy…
10/22, 4:50 PM
posted by:
yarddog82abn
Chevy motor gave out….
get-it……
10/22, 5:53 PM
posted by:
olds307
Bad move.
Sell Hummer. Cancel Saturn.
But selling ACDelco will dilute ALL of GM’s brand from GM to Cadillac.
10/22, 6:51 PM
posted by:
Madcapp
Wow, GM really has to be screwed to sell off ACD. I’m just picturing all the crow magnon looking, mullet wearing renecks with steam coming out of their ears after reading this (if they could actually read) at the news that GM is imploding.
10/22, 9:20 PM
posted by:
hateful83
Going thru 1 billion a month? I bet Lutz & Wagoner aren’t hurting. Maybe they should take a pay cut. Maybe all the upper echelon folks should consider this. They are the reason why everthings f*****.