Delco Remy International Announces China JV Alternator Acquisition

ANDERSON, Ind., June 17 -- Delco Remy International, Inc. (DRI) announces the acquisition of controlling interest in Hubei DR Alternator Company, Ltd. (HDRA), a joint venture located in Jingzhou, China, Hubei Province and the opening of a Representative Office in Shanghai.

The Hubei facility, formerly Hubei Delphi Automotive Generator Company Ltd., is a major passenger car alternator manufacturer with both domestic and international sales. Projections estimate that the Chinese automotive market will become the fourth largest in the world by 2010. The acquisition prepares Delco Remy for participation in this anticipated, explosive auto market industry. DRI is also planning significant expansion of the HDRA joint venture to parallel the growth of the Chinese passenger car market and establish HDRA as a significant source for the export of product.

"The acquisition is the first step toward creating a major China presence which will continue to strengthen our global low cost manufacturing capability. We have aggressive plans to manufacture all of our Original Equipment (OE) product families in China including Heavy Duty/Industrial as well as passenger car products," commented Richard L. Stanley, Delco Remy International's OE Business President.

Delco Remy International, Inc., a leading worldwide manufacturer and remanufacturer of automotive, powertrain, drivetrain and electrical products, is headquartered in Anderson, Indiana, USA.

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