Delphi Renames Division to Convey Strategic Product Focus, Announces $430m in Safety-Related Sales Contracts
biz.yahoo.com
TROY, Mich., June 14 /PRNewswire/ -- Delphi Automotive Systems (NYSE: DPH - news) has strengthened its focus on safety systems, resulting in nine new occupant protection systems contracts booked during the first five months of 2001 with auto manufacturers in North America, Europe and Asia Pacific. The contracts total more than $430 million for the life of the contracts. This figure includes $285 million of contracts for vehicle programs in the Asia Pacific region.
(Photo: newscom.com )
Delphi's safety-related mitigation products include driver, passenger, side and curtain airbags; active knee bolsters; steering wheels; seat belts; and other interior safety products such as sensors and electronics.
Reflecting Delphi's commitment to this growth segment, its Interior Systems division will be renamed Delphi Safety & Interior Systems.
``Changing our name helps to more accurately describe our divisional business and overall product strategy to our customers,'' said James A. Bertrand, vice president of Delphi Automotive Systems and president of Delphi Safety & Interior Systems. ``The new name underscores Delphi's philosophy of safety systems integration with interior features and better reflects Delphi's approach to interior systems engineering.
``Safety technologies are significant market differentiators for vehicle manufacturers, and consumer demand is the driving force,'' Bertrand continued. ``Delphi provides full safety system capability to auto manufacturers.''
The name change also coincides with the division's consolidation of its headquarters operations and many of its engineering functions into an existing building in Troy, Mich. The consolidation, which will reduce operating costs and improve opportunities for collaboration, is expected to be complete by the end of June.
``The timing of our move and name change supports our efforts to strengthen and grow our business in the safety, interiors and power products market segments,'' Bertrand said. ``Last year, our division strengthened its safety business by forming a joint venture with Ashimori Industry Co. Ltd. of Japan to pursue seat belt business in North America and other global seat belt markets. Additionally, our companies formed a teaming agreement to pursue airbag business worldwide.''
Delphi Safety & Interior Systems is a leading global supplier of occupant protection systems and the only major supplier of both interior systems and occupant protection systems. |
