Responsibility on Pair of Recently Debuted Crossover Vehicles
Illustrates Automaker's Confidence in Delphi's Systems 'Life-Cycle' Value
WARREN, Ohio, March 23 /PRNewswire/ -- Delphi Corporation is helping Ford
Motor Company's highly charged pursuit of the white-hot crossover vehicle
segment in North America by providing full-vehicle electrical/electronic (E/E)
systems support for a pair of recently debuted vehicles.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO )
Ford used January's North American International Auto Show as the stage to
officially introduce the 2007 Edge crossover utility vehicle (CUV), the latest
offering in the automaker's portfolio reflecting its emerging American design
direction. Ford also pulled the wraps off the Edge's luxury market platform
mate, the Lincoln MKX, another boldly-styled all-wheel drive CUV offered as a
2007 model-year vehicle.
Delphi is responsible for the E/E technology in both vehicles, and will
assemble their related systems and components as part of a business package
that offers a clear example of the supplier's strengthening relationship with
Ford.
"We are very excited and encouraged by this opportunity to extend our
growing relationship with Ford, and that they continue to demonstrate their
trust in Delphi with critical vehicle programs. We feel that confidence is
born from Ford's full recognition of what we bring to their business, the
tremendous value that comes from our comprehensive technical resources and our
unparalleled ability to fully optimize vehicle systems through architecture
capability that's been fully demonstrated to the customer," said Douglas R.
Gruber, Delphi Packard Electric E/EDS business line executive.
"Delphi's E/E competencies run throughout the life cycle of the program --
from the up-front architecture design and systems integration activities with
Ford to comprehensive support and flawless launch execution," Gruber
continued. "It is with that eye towards complete support that we eagerly look
to this critical program and our opportunity to contribute to the success of a
launch that our customer views as a major statement to the industry, doing so
with products destined to differentiate Ford from the rest of the field."
Widely viewed as a segment with greater growth prospects than sport-
utility vehicles, the North American CUV market continues its meteoric rise,
with close to three dozen nameplates available to consumers (through 2007 MY
applications) -- a nearly three-fold increase over the CUV menu at the
beginning of the decade. Ford's contemporary design along with innovative
features and performance attributes in line with CUV shoppers' heightened
expectations characterize the Edge and MKX, both of which are fueling the
automaker's drive for CUV leadership.
Delphi will play a role in that quest for CUV leadership by delivering E/E
systems technology fully optimized in the vehicles' architecture to meet both
of their unique requirements, working with Ford early in the development phase
to ensure comprehensive attention to vehicle needs. The supplier is blending
vehicle-specific technical advancements, such as a unique performance approach
in the vehicle's custom-designed electrical center, with customer-valued
architecture features already proven in existing Delphi-supported programs.
Delphi's technical expertise first debuted on a Ford North American
program with the redesigned Ford Freestar minivan (and Mercury Monterey
sibling), the company's first opportunity to provide full-vehicle E/E
architecture design and manufacture responsibility for the customer in the
region. That was quickly followed by the 2005 Ford Mustang, for which Delphi
also has design-and-build responsibility.
"Those programs have afforded us numerous opportunities to demonstrate
technical leadership and differentiating capabilities, which not only have
helped bring value to those launches but have strengthened Ford's bottom-line
prospects across other lines," said Nick Cassudakis, director of North
American engineering at Delphi Packard. He noted as one example Delphi's role
in assisting Ford's development of a new global crimp standard (applying a
terminal/connector to a wire). Primarily based on Delphi's longtime design
expertise and crimping process capability, the new standard is expected to
drive improved warranty performance.
With the Edge and MKX, Delphi will be providing wiring harnesses for eight
North American-produced Ford Motor Co. vehicles.
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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Related links:
http://www.delphi.com/media
Photo Notes:
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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