Delphi, Furukawa Electric Bring Collective Strengths to Newly Formed, Toyota-Focused Joint Venture

Companies Establish JV Primarily to Support Automaker's Electrical/Electronic Systems Future Needs

TROY, Mich., Dec. 8 -- Delphi Corporation and The Furukawa Electric Company, Ltd. (JP: 5801) have established a joint venture designed to strengthen their collective ability to meet the demands of the vehicle manufacturers critical to both companies' growth prospects.

The joint venture, which officially brings together Delphi's Packard Electric division and Furukawa Electric for the first time in such an alignment, has been created primarily to design, manufacture and deliver electrical/electronic distribution systems (E/EDS) for Toyota Motor Manufacturing North America, Inc. Delphi will have majority interest in the joint venture, which was officially established in December as Delphi Furukawa Wiring Systems LLC.

James A. Spencer, president of Delphi Packard Electric and vice president, Delphi Corp., noted that this partnership allows both companies to bring their prominent competencies to key future model-year vehicles. That includes business recently won by Delphi on future Toyota programs.

"Toyota's continued success in the global marketplace offers strong growth potential for the supplier community, but only for those who can demonstrate the ability and commitment to deliver flawless execution across the board," Spencer said, adding that Delphi just recently began supporting Toyota's redesigned Tacoma pickup truck program with full E/EDS content.

"By establishing this venture with Furukawa we feel we are bringing to Toyota a strategy that positions us to exceed their expectations, a package that's made complete with the blending of both of our overall engineering capabilities and insight into robust product design and assembly."

One of Japan's major E/EDS suppliers, Furukawa brings to the joint venture a strong engineering relationship with Toyota, with valuable insight into Toyota-recognized CAD systems and experience in the automaker's product and process design methodologies.

Those attributes are being teamed with Delphi Packard's well-recognized capability in advanced electrical architecture design, its leadership in complete systems integration and optimization, and its vast manufacturing and customer support network.

The joint venture will utilize Delphi Packard's North American manufacturing operations to produce the final wiring harness assemblies under the direction of the joint venture. Delphi and Furukawa already have engineers together on site in Japan and North America working with Toyota.

"We are very excited to be coming together with Furukawa in this effort to serve Toyota with the very best of what our two companies have to offer," said Douglas R. Gruber, Delphi Packard E/EDS business line executive. "We are also encouraged by the potential this North American-based joint venture may have to become the foundation to work in other regions in the world as well."

About Furukawa

The Furukawa Electric Co., Ltd. is a designer, manufacturer, and supplier of leading edge optical fiber and cables, photonic products, power cables, nonferrous metals, electronics devices, and other related products for the information and communication, energy, material, transportation and electronics markets. Headquartered in Tokyo, Japan, Furukawa operates facilities in United States, Canada, Mexico, Brazil, United Kingdom, Hungary, Czech Republic, and Asian countries. For more information, visit the company's web site at http://furukawa.co.jp/english .

About Delphi Packard Electric

Delphi Packard Electric, a division of Delphi Corporation, is an electrical/electronic systems solutions provider with full component capabilities and knowledge of complete vehicle systems integration. It has more than 85,000 employees and 175 manufacturing and engineering facilities in 34 countries, with its global headquarters in Warren, Ohio. Founded in 1890, Delphi Packard Electric is an expert in the design, development, optimization and integration of system solutions utilizing a full range of products and technologies.

For more information about Delphi and its operating subsidiaries, visit Delphi's Virtual Press Room at http://www.delphi.com/media .

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