Newest Contract to Provide Complete Content for Upcoming Small Car
PARIS, Sept. 24 /PRNewswire/ -- Delphi Corp. (NYSE: DPH) has earned a USD
$180 million contract with Renault to provide the complete
electrical/electronic distribution system for a future Renault vehicle slated
for the B-segment -- small vehicles platform. Renault has occupied a
leadership position for many years in this segment for its design, interior
space, performance and value. Already a long-standing supplier of
electrical/electronic distribution (E/ED) systems to the Renault group, Delphi
further strengthens its relationship with the first European brand.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO )
"Renault continues to be a prominent leader in developing vehicles that
take style and interior space design to new levels, something that appeals
very strongly to consumers throughout the region," said Stefaan Vandevelde,
Delphi Packard Electric managing director of Europe, Middle East and Africa.
With this future program, Delphi Packard Electric has grown its new
business with Renault in Europe to USD $790 million since 2001. Vandevelde
noted that Delphi Packard Electric's ability to earn Renault's confidence on
programs critical to its growth objectives in Europe is based on the
capability to provide strong value and activities that reinforce the
customer's prospects to be competitive in the marketplace.
Also important, he added, is Delphi Packard Electric's long-running
engineering relationship on numerous past and current projects, which has
frequently demonstrated the ability to address design issues and challenges
early in the vehicles' development, and to ensure successful vehicle launches.
"We have had very good relationships at all stages of our projects on the
engineering activities. When you establish that kind of confidence with the
customer so far up front of vehicle's final design, you move with authority
from 'supplier' to 'partner,' which will position a supplier to grow,"
Vandevelde said. "We are very encouraged to have so significantly earned
Renault's confidence on these programs over the last few years, and we
continue to enjoy a partnership with Renault that has, and will, afford us
great opportunities for continued growth in Europe."
Delphi Packard Electric currently provides E/ED systems support for the
Renault Clio and Twingo passenger cars, both part of the automaker's small car
segment (it has supported the Twingo since 1993). It also supplies engine
harnesses for the now-launching Renault Modus, a new monospace offering in the
B-segment that represents the latest in a long line of small Renault models
that blends spacious interior characteristics with a compact wheelbase.
For more information about Delphi visit http://www.delphi.com/media .
All statements contained or incorporated in this press release which
address operating performance, events or developments that we expect or
anticipate may occur in the future (including statements relating to future
sales or earnings expectations, savings expected as a result of our global
restructurings or other initiatives, portfolio restructuring plans, volume
growth, awarded sales contracts and earnings per share expectations or
statements expressing general optimism about future operating results) are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements are made on the basis of
management's current views and assumptions with respect to future events.
Important factors, risks and uncertainties which may cause actual results to
differ from those expressed in our forward-looking statements are discussed in
detail in our filings with the Securities and Exchange Commission, including
our annual report on Form 10-K for the year ended December 31, 2003. In
particular, the achievement of projected levels of revenue, earnings, cash
flow and debt levels will depend on our ability to execute our portfolio and
other global restructuring plans in a manner which satisfactorily addresses
any resultant antitrust or labor issues and customer concerns, any contingent
liabilities related to divestitures or integration costs associated with
acquisitions, and other matters; the success of our efforts to diversify our
customer base and still maintain existing GM business; the continued
protection and exploitation of our intellectual property to develop new
products and enter new markets; and our ability to capture expected benefits
of our cost reduction initiatives so as to maintain flexibility to respond to
adverse and cyclical changes in general economic conditions and in the
automotive industry in each market we operate, including customer cost
reduction initiatives, potential increases in warranty costs, pension
contributions, healthcare costs, disruptions in the labor, commodities or
transportation markets caused by terrorism or war and other changes in the
political and regulatory environments where we do business. Delphi does not
intend or assume any obligation to update any of these forward-looking
statements.
SOURCE Delphi Corporation
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http://www.delphi.com/media
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CONTACT:
Doug Hoy of Delphi Corporation,
+1-330-373-7647, douglas.d.hoy@delphi.com
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