Delphi Celebrates Grand Opening of New China Manufacturing Facility
Delphi Suzhou Operations supports company's strong presence in China; Site expands company's production capabilities for high-tech audio, powertrain and safety systems
Release Date: April 25, 2005
SUZHOU, China -- Delphi Corp. (NYSE: DPH) celebrated the inauguration of its newly expanded manufacturing operations here with local officials and customers during a special ceremony today.
Delphi Electronics Suzhou Operations, located in the Suzhou Industrial Park, occupies nearly 200,000 square feet (18,580 square meters). Approximately 600 employees work at the site where a variety of high-tech automotive electronics are produced, including audio, powertrain and safety systems. The facility offers a full array of manufacturing capabilities, from circuit board assembly to packaging and testing. Delphi has operated in Suzhou since 1995 and was one of the first companies to establish a presence in the Suzhou Industrial Park. Work on the expansion began in early 2004.
"The official opening of our new facility in Suzhou marks the achievement of an important milestone in Delphi's global growth strategy," said Jeff Owens, vice president, Delphi and president, Delphi Electronics & Safety. "We continue to expand our presence in China to keep pace with the rapidly growing domestic vehicle market. Our new operations in Suzhou will help meet increasing Chinese consumer demand for sophisticated vehicle technologies. The facility also strengthens our presence with local auto manufacturers and is consistent with Delphi's track record of aligning our manufacturing footprint with the needs of our global customer base."
Delphi is one of the leading foreign-invested automotive suppliers in China, the world's fastest-growing vehicle market. Overall, Delphi has experienced average year-over-year growth of approximately 30 percent annually since its initial investment in China in 1993.
"China's consumers continue to seek the latest innovations in vehicle safety, engine management and entertainment," Owens said. "As a result, automakers in China regard electronics as critical to differentiating their vehicles in an increasingly competitive environment. Based on the world-class performance levels our employees in Suzhou have achieved so far, I'm confident the site will help Delphi maintain its leadership position in this exciting market."
Delphi has announced plans to open a new research and development technical center in Shanghai later this year. In China, Delphi operates 15 joint ventures and wholly-owned foreign enterprises, including the Suzhou site, 11 other manufacturing operations, and training and technical centers. Delphi customers in China include nearly all domestic and foreign-invested auto manufacturers. For more information about Delphi, visit Delphi's media room at 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, 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, 2003 and our disclosures filed regarding the status of the ongoing internal investigation being conducted by the audit committee of the Company's board of directors and related SEC investigation. Delphi does not intend or assume any obligation to update any of these forward-looking statements.
Paula M. Angelo
[1] 765.451.0660
