Delphi Books More Than $3.6 Billion in E/ED Systems Wins in Europe During 2003
WUPPERTAL, Germany, Dec. 10, 2003 -- Delphi Corporation has further strengthened its growing position in the European electrical/electronic distribution (E/ED) market during 2003 by booking greater than $3.6 billion in new business with a variety of automotive and transportation companies in the region.
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The new contracts, earned through October of this year, cover a wide range of major European automakers and commercial vehicle manufacturers, and represent various levels of electrical/electronic integration and optimization. Also included are several business wins with Tier I suppliers.
Though some packages begin in 2004, the majority of the 2003 booked business will ramp up in 2006 and beyond, running through as late as 2012. The 2003 European win total for E/ED systems support to date marks a nearly sevenfold increase over 2002 booked business on the continent.
"This was a record year for new business won in Europe, and our ability to earn more than $3.6 billion in new business reflects our customers' growing confidence in our capability to deliver value and differentiating technology across a full range of products and customized solutions," said Stefaan Vandevelde, director of European operations for Delphi Packard Electric Systems.
"We are well positioned to support our customers in the region with the high level of consistent performance that has earned their trust."
For Delphi Packard Electric Systems, this means, in part, leveraging the expertise afforded by its customer-dedicated in-region engineering and design resources, an already strong advantage recently enhanced by Delphi's newly opened revamped Customer Technology Centre in Wuppertal. Working side-by-side with the customer, Delphi engineers maximize vehicle design activity by successfully managing the highly diverse and ever-increasing complexity of today's electrical architecture.
Delphi Packard Electric Systems also has a vast manufacturing footprint in Europe, which allows the company to meet the just-in-time needs and tight schedules of vehicle assembly plants through attractive localized manufacturing and sequencing options. Value is further enhanced through aggressive implementation of lean strategies throughout Europe, led by the principles contained within the Delphi Manufacturing System.
Delphi Packard Electric is an expert in the design, development, optimization and integration of system solutions utilizing a full range of products and technologies, with engineering, lean manufacturing and sales support in all regions of the world. Delphi Packard Electric provides a full array of component and systems testing and offers technical support and on-site engineering in all regions of the world. Along with E/ED systems, the division also manufactures a complete family of electrical center technologies, connection systems, switches, sensors and mechatronic devices.
Delphi provides a broad range of products and technologies to all European automotive manufacturers. With 32 technical centers globally and 10 located throughout Europe, Middle East and Africa, Delphi helps customers with solutions and engineering advancements.
For more information about Delphi, please visit Delphi's Virtual Press Room at www.delphi.com/vpr .
Forward Looking Statements
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, 2002. 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.
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