New building will facilitate stronger local support to Toyota Technical
Center
ANN ARBOR, Mich., July 17 /PRNewswire/ -- Delphi Furukawa Wiring
Systems LLC opened a new customer service center here recently.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO )
Delphi Corporation and The Furukawa Electric Company, Ltd., through a
joint venture created in December 2004, are seeking to better support
Toyota's R&D and manufacturing divisions with the new facility and local
staff.
The Delphi Furukawa team is now physically located at the new 5,500
sq.- ft. customer service center, located at 2311 Green Road in Ann Arbor.
The new center, located across the street from Toyota Technical Center
(TTC), a division of Toyota Motor Engineering & Manufacturing North America
(TEMA), will initially house 25 engineers, program managers and sales
staff.
James A. Spencer, president of Delphi Packard Electric Systems, led a
team of Delphi and Delphi Furukawa officials in hosting a grand opening
event for TEMA officials on June 22.
"We are honored to be a supplier to Toyota," Spencer said. "It's
important to us to grow our relationship with them, which we seek to do by
continuously improving and finding new ways to deliver better value,
service and technology."
"An important part of excellence is being there by your customer's
side, every day," Spencer said. "Our Ann Arbor center brings us closer to
our customer, and enhances our ability to provide the immediate service
that Toyota needs and deserves."
About Delphi Furukawa
Delphi is one of the world's largest automotive components and systems
suppliers. The Furukawa Electric Company, Ltd., is one of Japan's major
electrical/electronic distribution systems (E/EDS) suppliers and Delphi's
partner in Delphi Furukawa Wiring Systems LLC.
In December of 2004, a partnership was formed between Delphi Packard
and Furukawa Electric to blend both companies' engineering capabilities,
product design and assembly expertise.
"This partnership is a unique collaboration where competencies of both
companies come together to provide Toyota the best support for its future
programs," said Jim Borzi, president of Delphi Furukawa Wiring Systems.
The Delphi Furukawa joint venture company is responsible for sales and
engineering activities for select Toyota electrical/electronic distribution
systems.
"This partnership provides Toyota with a great synergy between two
leading companies," Spencer said. "For Delphi, it's our widely recognized
capability in advanced electrical/electronics architecture design, and our
leadership in system integration and optimization along with a vast
customer support and manufacturing network. For Furukawa, it's a strong
engineering relationship with Toyota, with valuable insight into Toyota's
CAD systems and experience in Toyota's product and process design
methodologies. This grand opening is the start here in North America to
support the growth of the world's fastest growing OEM."
More Detail on the New Center
The facility allows for greater flexibility in creating a tailored
product for Toyota, which is strengthened by close contact and
coordination. The facility also has an Obeya room where a cross-functional
team can come together to solve problems quickly as part of Toyota's Kaizen
approach to project management.
"We have a lean group of engineering, manufacturing and sales experts
at this facility," said Nick Cassudakis, Delphi Packard
Electrical/Electronics Systems. "These individuals are engaged and move
quickly and efficiently to meet Toyota's electrical/electronic architecture
needs in a cost-effective manner. Having this new customer center will
allow us to grow with Toyota and strengthen our relationship for the
future. Because electrical vehicle development is so critical to the
vehicle, we recognize we need to be very close to the customer."
Delphi's Relationship with Toyota
Delphi has supported Toyota for more than 20 years. Delphi's technology
-- ranging from air conditioning systems, satellite radios, steering
columns, sensors and more -- is currently featured on 14 Toyota vehicles,
including the popular Corolla, Camry and Avalon.
For more information on Delphi (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") financing 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 execute its business plans, including the
transformation plan described in the Company's March 31, 2006 press
release, and to do so in a timely fashion; 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, 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. 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
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Related links:
http://www.delphi.com/media
http://www.delphi.com
Photo Notes:
NewsCom: http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO
PRN Photo Desk photodesk@prnewswire.com
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CONTACT:
David Carr of Delphi Corporation,
+1-330-373-7647, david.carr@delphi.com
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