Delphi Secures More Than $1.5 Billion in New Business for Commercial Vehicles
Monday August 4, 8:00 am ET
biz.yahoo.com
TROY, Mich., Aug. 4 /PRNewswire/ -- Delphi Corporation (NYSE: DPH - News) has secured more than $1.5 billion in future new business for Commercial Vehicles (CV) during the first six months of 2003, exceeding the company's target for the entire year.
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J.T. Battenberg III, Delphi chairman, chief executive officer and president, said that Delphi's CV performance validates how the company is successfully executing its strategy of building its non-automotive business and diversifying its customer base.
"Our broad product portfolio, our electronics expertise and our emphasis on customer service all lend themselves especially well to the Commercial Vehicle market," Battenberg said. "Our global CV customers really are seeing the value in working with us, and they are increasingly choosing Delphi as their supplier of choice to provide advanced technologies for their new on- and off-highway vehicles. This momentum is propelling us ahead of our anticipated goals for the business line."
Delphi has steadily increased its CV business during each of the past three years. Last year, the company booked $1.1 billion of new CV business, up from $900 million in 2001.
Greg Kochendorfer, Delphi's global director for Commercial Vehicles, said that the majority of this year's new business falls into six product areas: diesel fuel injection; diesel electronic control units; and audio, safety, climate control, and electrical/electronic distribution systems.
"Europe and North America have always been strong CV markets for Delphi, but this year Asia-Pacific is leading all regions in new business booking performance," said Kochendorfer. "The demand for Delphi technologies validates the strong value we are bringing the truck, agriculture, and construction industries." |
