Delphi and DAAZ Win Radiator Business From Russian Automaker AVTOVAZ
Contracted for Final Assembly on 2009 Vehicle
Release Date: August 27, 2008
MOSCOW -- Delphi Corporation (PINKSHEETS: DPHIQ) has been awarded new business from Dimitrovgrad Avtoagregat Plant (DAAZ) to supply engine cooling radiator cores to the final assembly of radiator fan modules for the AVTOVAZ Lada Kalina. In January 2009, DAAZ will begin delivering modules to the AVTOVAZ plant in Togliatti, Russia.
"This win underscores Delphi's continued growth in the Russian market and represents a joint design, engineering and manufacturing effort between Delphi and DAAZ," said Jim Bertrand, president of Delphi Thermal Systems. "Russia is an important emerging market, and as a global supplier, Delphi has the right technology, footprint and distribution channels to meet the needs of its Russian customers. Delphi will continue to work with DAAZ and its parent company Industrial Holding 'AVTOCOMPONENTS' to look for Thermal manufacturing opportunities in Russia."
Delphi has a history of supplying the Russian market with complete air conditioning systems. In 2004, Delphi launched the first air conditioning system on the Russian-made Chevy Niva for GM AVTOVAZ. Since 2007, Delphi has supplied the UAZ Patriot with a complete AC system.
ABOUT DELPHI
Delphi is a leading global supplier of mobile electronics and transportation systems, including powertrain, safety, steering, thermal, and controls & security systems, electrical/electronic architecture, and in-car entertainment technologies. Engineered to meet and exceed the rigorous standards of the automotive industry, Delphi technology is also found in computing, communications, consumer electronics, energy and medical applications. Headquartered in Troy, Mich., Delphi has approximately 159,000 employees and operates 153 wholly owned manufacturing sites in 34 countries with sales of $22.3 billion in 2007. Delphi can be found on the Internet at www.delphi.com.
FORWARD LOOKING STATEMENTS
This press release as well as other statements made by Delphi may contain forward-looking statements that reflect, when made, the Company's current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company's operations and business environment which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue," the negative of these terms and other comparable terminology. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the ability of the Company to operate pursuant to the terms of the debtor-in-possession financing facility and its advance agreement with GM, to obtain an extension of term or other amendments as necessary to maintain access to such facility and advance agreement; the Company's ability to obtain Court approval with respect to motions in the chapter 11 cases prosecuted by it from time to time; the ability of the Company to consummate its amended plan of reorganization which was confirmed by the Court on January 25, 2008 or any other subsequently confirmed plan of reorganization; risks associated with third parties seeking and obtaining Court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, for the appointment of a chapter 11 trustee or to convert the cases to chapter 7 cases; the ability of the Company to obtain and maintain normal terms with vendors and service providers; the Company's ability to maintain contracts that are critical to its operations; the potential adverse impact of the chapter 11 cases on the Company's liquidity or results of operations; the ability of the Company to fund and execute its business plan (including the transformation plan described in Item 1. Business "Plan of Reorganization and Transformation Plan" of the Annual Report on Form 10-K for the year ended December 31, 2007 filed with the SEC) and to do so in a timely manner; the ability of the Company to attract, motivate and/or retain key executives and associates; the ability of the Company to avoid or continue to operate during a strike, or partial work stoppage or slow down by any of its unionized employees or those of its principal customers and the ability of the Company to attract and retain customers. Additional factors that could affect future results are identified in the Annual Report on Form 10-K for the year ended December 31, 2007 filed with the SEC, including the risk factors in Part I. Item 1A. Risk Factors, contained therein, and the Company's quarterly periodic reports for the subsequent periods, including the risk factors in Part II. Item 1A. Risk Factors, contained therein, filed with the SEC. Delphi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise. Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Company's various prepetition liabilities, common stock and/or other equity securities.
Agnieszka Przymusinska
agnieszka.przymusinska@delphi.com
48 12 252 10 33
Delphi Europe
Marie-Pierre Ygrie
marie.pierre.ygrie@delphi.com
33 1 49 90 47 52
