Delphi Strengthens Market Position in Korea With Nearly $7 Million in New Steering Contracts
Delphi continues Korean growth in safety, thermal and electrical businesses
SEOUL, Korea, Dec. 16 /PRNewswire/ -- Delphi Automotive Systems (NYSE: DPH - news) announced today nearly $7 million in new contracts from Daewoo Motor Corporation and Kia Motor Corporation for advanced steering technologies.
Delphi, in conjunction with its joint venture Daewoo Automotive Components, has secured $6.23 million in new business contracts with Daewoo Motor. Delphi also earned a single $0.45 million contract with Kia Motor.
The new business represents continued growth for Delphi in Korea, said J.T. Battenberg III, Delphi chairman, chief executive officer and president.
''We are working very hard to become trusted partners with Korean automakers, and we have made solid progress in our safety, thermal and electrical businesses,'' he said. ''These new contracts will allow us to prove that our strategic partnerships, local presence and advanced technologies will make us a valued partner for steering systems, as well.''
Delphi was chosen by Daewoo Motor to be the exclusive steering systems and driveline supplier for Daewoo's 2000 model Rezzo. Delphi also will supply its MAGNASTEER(TM) Magnetic Assist Steering System for Daewoo's 2000 model Magnus. The Rezzo and Magnus models arrive in the Korean marketplace this month.
''Daewoo's exclusive contract with us demonstrates their confidence in Delphi's steering expertise and ability to deliver a high-quality system,'' said Paul J. Tosch, vice president, Delphi Automotive Systems. ''We are pleased that our partnership with Daewoo has developed that type of trust over the years and we look forward to continuing the partnership into the new millennium.''
2000 Daewoo Rezzo -- Delphi support
For the Daewoo 2000 Rezzo, Delphi will supply the steering system, which includes the power rack and pinion gear, power steering pump, rake steering column and intermediate shaft. Delphi also will provide halfshafts, which account for the largest amount of annual steering sales by product line to Daewoo overall.
Delphi also has significant safety, thermal and electrical content on the vehicle, including frontal airbags, door latches, air conditioning module, condenser, compressor, radiator, wiring harness, secondary ignition cable assembly, switches, and instrument panel printed circuit board bussed electrical center.
2000 Daewoo Magnus -- Delphi support
Daewoo's 2000 Magnus model will feature Delphi's MAGNASTEER(TM) Magnetic Assist Steering System. MAGNASTEER is a premier, speed-sensitive, variable- effort power steering system. Its unique design employs a combination of hydraulics, electronics and magnetics to smooth power steering from one effort level to another with no compromise in steering between parking and highway driving.
The MAGNASTEER System offers vehicle engineers greater control of the steering system's personality by providing a significantly wider variable effort steering range and one of the widest power assist steering ranges available in the industry, Tosch said. Laptop tuning capabilities reduce time-consuming mechanical changes, while minimized friction and symmetrical loading from few moving parts make the MAGNASTEER System exceptionally reliable, Tosch said.
Delphi's safety, thermal and electrical content on the 2000 Magnus includes the door latch, air conditioning module, condenser, compressor, radiator, air filter, wiring harness, instrument panel printed circuit board bussed electrical center, switches, and underhood routed wire bussed electrical center.
Kia 1999 Pride -- Delphi Support
Delphi's contract with Kia is to supply halfshafts for Kia's 1999 model Pride replacement, currently available in the marketplace.
Earlier this year Delphi announced a contract with Kia worth $5.7 million annually to supply bussed electrical centers beginning with the 2000 Sephia IV.
•Delphi provides advanced occupant protection safety systems to Korean•market•Delphi increased its level of safety support to Korean automakers during
1999, earning approximately $15 million of annual business starting with the
2001 model year.
Also this year, Delphi supported the expansion of occupant protection safety systems in the Korean auto market through the transfer and localization of side-airbag product technology and delivery.
''Delphi is an excellent choice in occupant protection systems for Korean OEMs because of Delphi's customer base, global presence and technical expertise,'' said Choon Chon, president, Korea, Delphi Automotive Systems. ''We want to provide all the resources of a large company with all the responsiveness of a smaller company.''
Delphi employs 115 permanent employees in Korea and partners with six joint venture companies, including Daewoo Automotive Components Ltd., Shinsung Packard Co. Ltd., Daesung Electric, Korea Door Systems Co. Ltd., Delkor Corporation and Sungwoo Corp.
Delphi continues to pursue opportunities for joint ventures and other operations. Delphi's customer base includes all five major Korean OEMs, including Daewoo, Hyundai, Kia, Ssangyong and Samsung.
Delphi Automotive Systems, with headquarters in Troy, Mich., USA, is a world leader in automotive component and systems technology. Delphi's three business sectors -- Dynamics & Propulsion; Safety, Thermal & Electrical Architecture; and Electronics & Mobile Communications -- provide comprehensive product solutions to complex customer needs. Delphi has approximately 201,000 employees and operates 168 wholly owned manufacturing sites, 38 joint ventures, 51 customer centers and sales offices, and 27 technical centers in 37 countries. Regional headquarters are located in Paris, Tokyo and Sao Paulo, Brazil. Delphi can be found on the Internet at delphiauto.com
SOURCE: Delphi Automotive Systems |
