New Bookings Reflect Customers' Growing Confidence Brought By
Expansive Manufacturing Footprint, Robust Engineering Capabilities
WARREN, Ohio, Feb. 13 /PRNewswire/ -- Delphi Corporation's role as a
preeminent global leader in electrical/electronic systems design and
manufacturing was reaffirmed in 2005 by a multi-billion dollar performance in
new business bookings.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO )
Delphi's Electrical/Electronic Distribution Systems (E/EDS) business line
totaled more than USD $5.2 billion in new-business bookings last year, with
details of individual contracts remaining confidential at the customers'
request.
Delphi compiled this new business with a diverse lineup of customers that
included virtually every major vehicle manufacturer worldwide.
The win list also includes Tier II customers and those in non-automotive
markets, including multiple applications in the marine industry and commercial
vehicle segments. Products range from full vehicle wiring systems to advanced
electrical center technology, among others in Delphi Packard's
electrical/electronic (E/E) systems portfolio.
Douglas R. Gruber, Delphi Packard E/EDS business line executive, said the
division's success in breaking the $5 billion mark in 2005 can be attributed
to a number of factors, all of which are intrinsically linked to an enviable,
long-running and far-reaching marketplace presence.
"The year we had in 2005 illustrates how customers continue to place their
trust in our extensive E/E systems capabilities, which have been honed and
showcased repeatedly for well over a century," Gruber said. "Experience
counts when it comes to turning so many of these opportunities into wins,
especially when that experience is based on many decades of leadership in
providing customized support in E/E systems architecture design and network
management.
"We have been able to strengthen these customer relationships, and in many
cases begin new ones, because of the clear recognition manufacturers have for
our ability to meet their complete E/E systems needs," Gruber said, "whether
it's with differentiating systems optimization and development, or with
component technology designed to offer value and performance advantages."
Delphi Packard President James A. Spencer noted that Delphi Packard's
expansive global presence has been a longtime advantage for customers seeking
comprehensive localized E/E systems support. The "think global, act local"
approach is evident, Spencer said, in the way Delphi Packard continues to
implement cross-regional manufacturing and logistic processes to improve
efficiencies in a manner that enhances customer- and site-specific support of
OEMs, and with engineering support that's almost literally just next door.
"Customers worldwide continue to place significant value in the benefits
Delphi Packard provides through what we feel is an unrivaled level of support
that's born from the combination of extensive localized assembly flexibility
and dedicated in-region engineering and design resources," Spencer said. "We
are very encouraged that their confidence in our capabilities continues to
grow."
With a robust and ever-expanding E/EDS product portfolio and a strong
penchant for managing growing vehicle complexity, Delphi Packard is well
positioned to meet the changing needs in vehicle systems design and overall
architecture development, Gruber noted, as automakers are increasingly looking
to full-service suppliers capable of quickening the pace of differentiating
technology implementation, and ultimately help bring greater value to their
customers.
At Delphi, we help make cars safer, cleaner, more efficient, and fun to
drive. For more information about Delphi Corporation (Pink Sheets: DPHIQ),
visit http://www.delphi.com .
Forward-looking statement
This press release, as well as other statements made by Delphi may contain
forward-looking statements within the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, 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 ("DIP") facility; the Company's ability to
obtain court approval with respect to motions in the chapter 11 proceeding
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; 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; the ability of
the Company to attract, motivate and/or retain key executives and associates;
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, 2004 and its most recent
quarterly report on Form 10-Q for the quarter ended September 30, 2005 and
current reports on Form 8-K. 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 interest and
cancellation of their interests. As described in the Company's public
statements in response to the request submitted to the United States Trustee
for the appointment of a statutory equity committee, holders of Delphi's
common stock and other equity interests (such as options) should assume that
they will not receive value as part of a plan of reorganization. In addition,
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
prepetition liabilities.
SOURCE Delphi Corporation
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http://www.delphi.com/media
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NewsCom:
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Company News On-Call:
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CONTACT:
Doug Hoy of Delphi Corporation,
+1-330-373-7647, douglas.d.hoy@delphi.com
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