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Company : Delphi Automotive Systems Ltd 
Wednesday, August 29, 2001 6:00PM IST (12:30PM GMT)
 
Delphi division invests more than $240 million on new product development and technology programs through first two-quarters of 2001
FLINT, Mich., United States

Delphi Energy & Chassis Systems, a division of Delphi Automotive Systems (NYSE: DPH), has invested more than $240 million in business growth spending through the first two quarters of 2001.

Investment product programs accounted for the majority with spending in excess of $200 million. Product development, process improvements, information technology enhancements and facility improvements comprise the remainder of the spending.

“We are committed to investing in new product and information technologies that will deliver viable returns for us in the long term,” said Guy C. Hachey, president, Delphi Energy & Chassis Systems.

Delphi is currently engaged in several new chassis, exhaust, and gas and diesel engine management programs with OEMs worldwide. Delphi remains committed to growing its passenger and light-, medium- and heavy-duty automotive diesel businesses, including key products such as common rail diesel systems and electronic unit injectors. Appropriations to-date for Delphi’s diesel systems total more than $70 million.

More than $60 million has been appropriated to support Delphi’s Rochester, N.Y., Grand Rapids, Mich. and Coopersville, Mich. facilities for various gas engine management, fuel injector, air fuel module and valve-train product programs.

Delphi has also allocated more than $20 million in capital for battery and chassis module programs. Batteries are produced at several Delphi facilities worldwide, with U.S. battery operations in Anaheim, Calif., Olathe, Kan., New Brunswick, N.J., and Fitzgerald, Ga. Chassis modules are produced at Delphi’s Saginaw, Mich. facility.

“Our investment strategy will continue to support our long-term business plan and growth strategy – investing in businesses and technologies that will help Delphi remain a world leader in technology and innovation,” said Hachey.

For more information about Delphi Automotive Systems, visit Delphi's Virtual Press Room at www.delphiauto.com/vpr.

Forward Looking Statements
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements made by us or on our behalf. All statements contained or incorporated in this 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 restructuring or other initiatives, volume growth, awarded sales contracts and earnings per share expectations or statements expressing general optimism about future operating results) are forward-looking statements. Principal important factors, risks and uncertainties which may cause actual results to differ from those expressed in our forward-looking statements include: our ability to increase non-GM sales and achieve the labor benefits expected from our separation from GM, our ability to retain GM business, potential increases in our warranty costs, our ability to successfully implement our global restructuring plans, changes in the economic conditions or political environments in the markets in which we operate, currency exchange rate fluctuations, financial or market declines of our customers or significant business partners, labor disruptions or material shortages, the level of competition in the automotive industry, significant downturns in the automobile production rate, costs relating to legal and administrative proceedings, changes in laws or regulations pertaining to the automotive industry, our ability to realize costs savings expected to offset price reductions, our ability to make pension and other post-retirement payments at levels anticipated by management, our ability to successfully exit non-performing businesses and absorb contingent liabilities related to divestitures, our ability to complete and integrate acquisitions, changes in technology and technological risks, our ability to protect and assert patent and other intellectual property rights, and other factors, risks and uncertainties discussed in our annual report on Form 10-K for the fiscal year ended December 31, 2000 and other filings with the Securities and Exchange Commission. Delphi does not intend or assume any obligation to update any of these forward-looking statements.

 
Media Contact Details
Steve Kinkade, 810.257.7996, steve.kinkade@delphiauto.com
Steve Kinkade, 810.257.7996, steve.kinkade@delphiauto.com
 
 
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