Platinum Equity Comments on Delphi

LOS ANGELES--Platinum Equity Chairman and CEO Tom Gores commented today on Platinum’s proposed acquisition of Delphi:

“Platinum Equity is uniquely equipped to help Delphi in ways no other investor can,” said Mr. Gores. “The automotive sector is in a period of extraordinary transition. Financial investment is critical, but true solutions for the industry will be about more than money. Struggling companies need partners with strong operational capabilities, a deep understanding of their business and a track record of creating real value.

“We have spent more than three years learning Delphi’s business and assembling the plans needed to help Delphi successfully emerge from bankruptcy on a road to long-term health and profitability,” Mr. Gores explained. “We have good working relationships with Delphi’s senior management and its global OEM customer base. We are ready to help and will see to it that we are a positive contributor to the industry’s transformation.”