Delphi to be a Primary Sponsor of Five Busch Series Events With No. 5 and
Kyle Busch
LAS VEGAS, Jan. 8 /PRNewswire/ -- Delphi Product & Service Solutions
announced today at a media reception held at the Consumer Electronics Show
(CES) in Las Vegas, Nev., that it will continue its major associate
sponsorship of Hendrick Motorsports during the 2007 NASCAR season. Nextel
Cup Series driver Kyle Busch personally attended the reception to help
kick-off yet another year with Delphi.
(LOGO: http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO)
An associate sponsor of all 2007 Hendrick Motorsports entries, Delphi
will also be the primary sponsor of Busch's No. 5 Chevrolet in the NASCAR
Busch Series for five races. Delphi sponsored events in the Busch Series
will include Las Vegas (March 10), Talladega (April 28), Daytona (July 6),
Chicago (July 14), and Texas (Nov. 3).
In addition, Delphi will receive preferred logo placement on both the
No. 5 Chevy driven by Busch and the No. 25 Chevy of Casey Mears in select
2007 Nextel Cup Series races.
"Delphi is proud to continue its sponsorship of Hendrick Motorsports
for the 2007 NASCAR season," said Francisco A. (Frank) Ordonez, president,
Delphi Product & Service Solutions and vice-president, Delphi Corp. "We are
also very excited to welcome Casey Mears to the Delphi family, and look
forward to a very exciting season with all of the Hendrick drivers."
Mears will be Hendrick Motorsports' newest driver at the start of the
2007 season, joining a roster that includes four-time Cup champion Jeff
Gordon, 2006 Cup champion Jimmie Johnson and Busch, the 2005 rookie of the
year. Delphi will continue to be featured on the uniforms of all of the
Hendrick drivers.
"We have had a terrific relationship with Delphi for the past six
years," said Rick Hendrick, owner of Hendrick Motorsports. "This
association has been extremely important to our organization on many levels
and we look forward to having them continue as a key partner for the 2007
season."
In addition to the relationship with Hendrick, Delphi supplies NASCAR
with ignition wire sets, electrical connectors, steering pumps, safety
testing and the 600 Series Integral Steering Gear.
For more information about Delphi's involvement in motorsports, please
visit http://delphi.com/about/motorsports. For more information about
Delphi (Pink Sheets: DPHIQ) and its subsidiaries, visit Delphi's media room
at http://www.delphi.com/media.
Forward Looking Statement
This press release, as well as other statements made by Delphi, may
contain forward-looking statements that reflect, when made, the company's
current views with respect to current events and financial performance.
Such forward-looking statements are and will be, as the case may be,
subject to many risks, uncertainties and factors relating to the company's
operations and business environment which may cause the actual results of
the company to be materially different from any future results, express or
implied, by such forward-looking statements. Factors that could cause
actual results to differ materially from these forward-looking statements
include, but are not limited to, the following: the ability of the company
to continue as a going concern; the ability of the company to operate
pursuant to the terms of the debtor-in- possession facility; the company's
ability to obtain court approval with respect to motions in the chapter 11
cases prosecuted by it from time to time; the ability of the company to
develop, prosecute, confirm and consummate one or more plans of
reorganization with respect to the Chapter 11 cases; the company's ability
to satisfy the terms and conditions of the Equity Purchase and Commitment
Agreement with its Plan Investors; the company's ability to satisfy the
terms and conditions of the Plan Framework Support Agreement with GM and
its Plan Investors (including the company's ability to achieve consensual
agreements with GM and its U.S. labor unions on a timely basis that are
acceptable to the Plan Investors in their sole discretion); risks
associated with third parties seeking and obtaining court approval to
terminate or shorten the exclusivity period for the company to propose and
confirm one or more plans of reorganization, for the appointment of a
chapter 11 trustee or to convert the cases to chapter 7 cases; the ability
of the company to obtain and maintain normal terms with vendors and service
providers; the company's ability to maintain contracts that are critical to
its operations; the potential adverse impact of the Chapter 11 cases on the
company's liquidity or results of operations; the ability of the company to
fund and execute its business plan (including the transformation plan
described in Item 1. Business "Potential Divestitures, Consolidations and
Wind-Downs" of the Annual Report on Form 10-K for the year ended December
31, 2005 filed with the SEC) and to do so in a timely manner; the ability
of the company to attract, motivate and/or retain key executives and
associates; the ability of the company to avoid or continue to operate
during a strike, or partial work stoppage or slow down by any of its
unionized employees; and the ability of the company to attract and retain
customers. Other risk factors are listed from time to time in the company's
United States Securities and Exchange Commission reports, including, but
not limited to the Annual Report on Form 10-K for the year ended December
31, 2005. Delphi disclaims any intention or obligation to update or revise
any forward-looking statements, whether as a result of new information,
future events and/or otherwise.
Similarly, these and other factors, including the terms of any
reorganization plan ultimately confirmed, can affect the value of the
company's various pre-petition liabilities, common stock and/or other
equity securities. Additionally, no assurance can be given as to what
values, if any, will be ascribed in the bankruptcy proceedings to each of
these constituencies. A plan of reorganization could result in holders of
Delphi's common stock receiving no distribution on account of their
interests and cancellation of their interests. Under certain conditions
specified in the Bankruptcy Code, a plan of reorganization may be confirmed
notwithstanding its rejection by an impaired class of creditors or equity
holders and notwithstanding the fact that equity holders do not receive or
retain property on account of their equity interests under the plan. In
light of the foregoing and as stated in its October 8, 2005, press release
announcing the filing of its Chapter 11 reorganization cases, the company
considers the value of the common stock to be highly speculative and
cautions equity holders that the stock may ultimately be determined to have
no value. Accordingly, the company urges that appropriate caution be
exercised with respect to existing and future investments in Delphi's
common stock or other equity interests or any claims relating to
pre-petition liabilities.
SOURCE Delphi Corporation
 back to top
Related links:
http://www.delphi.com/media/
http://delphi.com/about/motorsports
Photo Notes:http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO
PRN Photo Desk, photodesk@prnewswire.com
http://www.prnewswire.com/comp/076666.html/
CONTACT:
Carrie Wright of Delphi Corporation,
+1-248-267-8687, or carrie.wright@delphi.com
|
