Delphi Wins $160 Million Business With Major U.S. Automaker
TROY, Mich., Feb. 19 -- Delphi Corp. will provide safety restraints systems to a major North American automaker on luxury models beginning in calendar year 2005. Continuing to expand its customer base beyond its former parent company, General Motors, Delphi was awarded a contract worth an estimated $160 million to provide safety systems, including driver and passenger airbags, steering wheels and seat belts to a major customer in North America. "While focusing on our current customers' needs, we are also very pleased to supply our award- wining safety systems to new customers around the world," said James A. Bertrand, Delphi vice president and president of Delphi Safety & Interior Systems. The safety system that will be provided for this North American auto manufacturer also includes Delphi's patented Seat Belt Tension Sensing Switch, which when used in combination with Delphi's market-leading Passenger Occupant Detection System, assists the vehicle manufacturer in meeting the new FMVSS 208 regulations. The seatbelts, for front and rear occupants, will be complemented with Delphi's load-limiting retractors with pretensioners for improved occupant protection in case of a collision. Delphi's safety system approach offers customers an optimized integration of a wide range of safety system products that provide enhanced occupant protection, while consistently exceeding customers' expectations. Delphi's world-class airbags and safety system components exhibit a variety of patented features designed to afford maximized occupant protection while helping reduce the risk of airbag-induced injury. For more information about Delphi Corporation, please visit Delphi's Virtual Press Room at http://www.delphi.com/media . Forward Looking Statement 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, volume growth and awarded sales contracts 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, 2001. In particular, the achievement of projected levels of revenue over a long-term supply contract will depend in part on vehicle production rates which may be affected by, among other things, changes in operations, financial condition or market share of our customer and changes in general economic conditions, changes in the automotive industry and changes in our ability to satisfy service, technology, quality and reliability requirements. Delphi does not intend or assume any obligation to update any of these forward-looking statements.