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Non-Tech : Delphi Automotive Systems (DPH) -- Ignore unavailable to you. Want to Upgrade?


To: Stephen O who wrote (115)12/23/1999 9:37:00 AM
From: Esway  Read Replies (1) | Respond to of 397
 
LOCKPORT, N.Y., Dec 23, 1999 /PRNewswire via COMTEX/ -- Delphi
Automotive Systems' (NYSE: DPH) Harrison Thermal division has won a
contract with Fai-Komatsu (FKI) in Italy and has recently begun
supplying heating and air conditioning systems to the heavy machinery
and earth-moving specialist.

Through Delphi Diavia, the division's Italian operations, Delphi
Harrison Thermal Systems is providing approximately 1,200 heating,
ventilation and air conditioning (HVAC) systems annually to FKI, which
has its manufacturing operations located in Este, Italy. It is one of
several subsidiaries of Komatsu Ltd., which has manufacturing
operations in more than 10 countries worldwide.

Additionally, Delphi will supply heating systems, characterized
primarily by the inclusion of a heater core only, to 3,000 FKI-produced
units annually over a five-year period. Delphi-supplied construction
vehicles manufactured by FKI include loaders and excavators.

The heating and air conditioning systems are designed and assembled by
Delphi Diavia's Original Equipment Special Applications unit, based in
Molinella, Italy, which, as a complete systems provider, is also
responsible for the supply of refrigeration lines, the unit's
accumulator dehydrator and electrical wiring.

Several Delphi-manufactured thermal management-related products
utilized by the Molinella plant for its FKI assembly include the
parallel flow condenser and heater core (from Ostrow, Poland) and air
conditioning compressor (Moraine, Ohio, USA).

"While earth-moving machinery may represent a more smaller-volume
market than mainstream OEM applications, it's one that continues to
grow and offer great opportunities for systems suppliers, especially in
the area of air conditioning," said Roberto Grotti, chief engineer,
Delphi Diavia Special Applications unit.

Grotti noted that production of heavy equipment (including agricultural
vehicles) will grow 15 percent to nearly 100,000 units this year, with
air conditioning penetration approaching 60 percent.

"Like all special niche markets, this one requires a certain degree of
flexibility in both the planning and production stages, attributes we
capably offer customers like Komatsu," Grotti said. He added that
demonstrating such a high degree of flexibility has been a defining
factor in the plant's role as Europe's air conditioning aftermarket
leader.

An example of the Special Applications unit's flexibility is seen in
its maintenance-friendly design of the FKI air conditioning system.
Cleaning and routine maintenance are key factors optimizing air
conditioning performance. The design of the condenser bracket has been
done to allow a deep cleaning without removing any parts and
discharging the system. The condenser cools refrigerant vapor to a
liquid by rejecting heat to underhood airflow.

In addition to providing comfort solutions for earth moving machinery
and agricultural manufacturers like Komatsu, Delphi Diavia Special
Applications unit's capabilities are geared to other climate control
niche applications such as sport cars and other low air-conditioning
penetration vehicles, as well as large commercial trucks.

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
(C) 1999 PR Newswire. All rights reserved.
prnewswire.com
-0-
CONTACT: Doug Hoy of Delphi Harrison Thermal Systems, 716-439-2594
/Company News On-Call:
prnewswire.com or fax,
800-758-5804, ext. 076666

WEB PAGE: delphiauto.com

GEOGRAPHY: New York
Michigan



To: Stephen O who wrote (115)1/5/2000 4:04:00 PM
From: JakeStraw  Respond to of 397
 
Delphi considering future share buybacks
DETROIT, Jan 5 (Reuters) - Delphi Automotive Systems Corp. (NYSE:DPH - news) Chief Financial Officer Alan Dawes on Wednesday said the auto supplier is considering repurchasing shares, but so far had been able to get better shareholder returns through acquisitions and pension contributions.

Dawes told reporters on a conference call that buying back shares is something Delphi, the world's No. 1 auto supplier, considers on a regular basis.

''We are considering share repurchases. At this point though, the acquisitions that we have completed or announced, and the pension contributions have exceeded the returns of share repurchases,'' he said.

Delphi announced Wednesday it will add $575 million to its U.S. hourly pension fund on Thursday, bringing its total contributions to $1.8 billion since it split from General Motors Corp. (NYSE:GM - news) in May.

Dawes said Delphi's more than $2 billion in cash flow in 1999 gave it the freedom to put money into its pension fund earlier than planned. The contributions will lower Delphi's pension expenses by about 10 percent this year, adding $57 million to its 2000 earnings. Analysts had already expected the earnings boost, Dawes said.

The $1.8 billion in contributions means Delphi has mostly funded its pension obligations. Dawes said there is a small amount stemming from its new labor contracts that remains unfunded.

Dawes said between 10,000 and 11,000 hourly workers retired from the company in 1999, while the company replaced about 2,000 of those.