Delphi Corp.'s $1.3 billion interiors and closures unit stepped out on its own March 3, debuting as Inteva Products LLC.
Financier Ira Rennert, along with his Renco Group Inc., has completed the acquisition. Rennert began negotiating to buy the operation from Troy-based Delphi in 2006.
Inteva's operations include injection molding. Its 17 plants are spread across the U.S., Mexico, Germany, Austria, China and South Korea. The new company, based in Troy, employs 3,800 and manufactures instrument panels, center consoles, door panels, latches and other interior parts.
The former Delphi unit's business line executive, Lon Offenbacher, is Inteva's president and chief executive officer.