Alliance to supply Delphi's "hot end" and Bosal's "cold end"
TROY, Mich., Sept. 25 /PRNewswire/ -- Bosal Delphi Complete Exhaust
Systems recently won its first contract since Delphi Corp. and Bosal Group
entered into an alliance last year, the companies announced today.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO )
The contract for a complete exhaust system, which includes a Delphi-
supplied "hot end" and a Bosal-supplied "cold end" is worth $235 million
over its lifetime.
Distribution of the complete exhaust system in North America is
expected to begin in 2009.
Further details of the bookings remain confidential at the customer's
request.
"Bosal Delphi won this contract because of technical capability," said
Sandra McCulloch, Delphi Powertrain Systems product line executive,
Powertrain products and exhaust systems. "But we also brought competitive
pricing and logistics advantages to the project."
In an effort to bring together each company's specific expertise,
facilities and resources, Delphi and Belgium-based Bosal announced a new
strategic alliance to offer complete exhaust systems for the global
original equipment (OE) market in May of 2005. The non-equity based
alliance was created to offer a total customer solution around the globe
for any vehicle program and all current fuel options.
"This first Bosal Delphi business win is a promising sign for the
future of the alliance," said John Miles, president of Bosal International
- North America (BINA). "This is the first step in gaining prominence
across the globe. As Bosal Delphi gains more business wins, awareness of
its innovative approach and commitment to advanced technologies will
multiply."
For this inaugural contract, Delphi will be supplying the hot end sub-
assembly through their JV partner, Katcon.
The hot end sub-assembly consists of converter assemblies and a "Y"
pipe assembly. Bosal will supply cold end assemblies that consists of a
resonator, muffler assembly, intermediate pipe and tailpipe assembly.
About Bosal Group
Bosal is one of the world's leading manufacturers of tow bars, complete
exhaust systems for passenger cars, catalytic converters, complete exhaust
systems for trucks and industrial applications, roof bars and roof racks,
jacks and toolkits, cabins, irrigation equipment, precision steel tubing
and warehouse racking systems.
Established in 1923 in Alkmaar, the group is Dutch registered,
headquartered in Lummen, Belgium. The annual turnover in 2005 was in excess
of euro 815 million. The Bosal Group employs more than 6,000 people and has
42 manufacturing plants and 27 distribution centers.
About Delphi
For more information about Delphi Corp. (Pink Sheets: DPHIQ), visit
http://www.delphi.com/media .
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/
Photo Notes:
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CONTACT:
John Shea (USA), +1-248-813-2485,
John.shea@delphi.com or Marie-Pierre Ygrie (Europe), (33) 1 49 90
47 52, Marie.pierre.ygrie@delphi.com , both of Delphi Corporation
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