Delphi Automotive's Warren area plants may get some indirect benefit from the auto parts maker's pending purchase of a wiring connector business, but the main benefit is to strengthen its customer base and expand its global reach, a spokeswoman said Friday.
"They're a global company, and we're a global company. Together, it expands our portfolio of high growth electronic connectors," Rachelle Valdez said of Delphi's purchase of FCI Group's motorized vehicles division.
Pending closing of the deal by year's end, Delphi will pay $959.4 million for the United Kingdom-based business, which is owned by affiliates of Bain Capital.
The company said it expects the deal to add 24 cents per share to its 2013 earnings, excluding acquisition-related costs.
The deal will expand Delphi's existing connector business with more capacity to make items for safety restraint systems and powertrains, and it will increase its global reach, the companies said in a statement.
Delphi Packard Electrical/Electronic Architecture makes connectors and other parts at Warren area plants used to build electrical wiring harnesses for vehicles.