Public Sub test()
Dim myDir As String, myFile As String, FileNum As Long, x As Long, f As Long
With Application.FileDialog(msoFileDialogFolderPicker)
.AllowMultiSelect = False
If .Show = 0 Then Exit Sub
myDir = .SelectedItems(1)
End With
'myDir = GetFolder() 'here you set the directory that text files are placed
myFile = Dir(myDir & "*.txt")
Do While myFile <> ""
x = 1
FileNum = FreeFile
Open myFile For Input As #FileNum
Do While Not EOF(FileNum)
Line Input #FileNum, InputData
RawData = Split(InputData, "|", -1) '"|" is the delimiter
On Error Resume Next
For r = 0 To 10 'here i assume that i need 10 columns of raw data to be "imported"
Sheet1.Cells(x, r + 1) = Trim(RawData(r))
Next
x = x + 1
Loop
Close #FileNum
'begin to save sheet as independent xl file, at same dir as txt files.
'to save to another lockation then at line [ActiveWorkbook.SaveAs] replace
'"c:\" to what ever you want
Sheet1.Copy
xlfile = Split(myFile, ".")
ActiveWorkbook.SaveAs myDir & xlfile(0) & ".xls"
ActiveWorkbook.Close
myFile = Dir
Loop
End Sub