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

To: JakeStraw who wrote (264)	7/24/2001 10:33:47 AM
From: JakeStraw	Read Replies (1) \| Respond to of 397

Delphi Automotive Systems to Develop New Precision Plastic Injection Molding Facility in Vienna Township biz.yahoo.com VIENNA TOWNSHIP, Ohio, July 24 /PRNewswire/ -- Delphi Automotive Systems' (NYSE: DPH) Packard Electric Division announced today it will operate a new facility here, confirming the company's intent to proceed with its precision plastic injection molding project. (Photo: newscom.com ) Working with the Western Reserve Port Authority, Delphi will lease a new facility, which will allow the retention of approximately 180 jobs in the Mahoning Valley. The facility, which will contain approximately 120 molding machines, will be modeled after the company's state-of-the-art Cortland molding center, and feature additional improvements. ``This project is now becoming a reality,'' said Jim Spencer, president, Delphi Packard Electric. ``Our success in upgrading our molding business here in the Mahoning Valley is truly a collaborative effort. Through the support and cooperation of IUE-CWA Local 717, the office of The Governor of Ohio, Ohio Department of Development, Western Reserve Port Authority, Trumbull County Planning and Commissioners offices, Regional Chamber of Commerce, Mathews School Board, Vienna Township trustees and Ohio Edison, we have assembled a sound, competitive business case in an exciting and growth-oriented business line.'' Delphi will be investing $58.5 million in a new facility, equipment and machinery. A 10-year, 75 percent tax abatement was approved by Trumbull County and the Vienna Township trustees and school board. ``IUE-CWA Local 717 has been working with Delphi management on this project for quite some time, so we are very happy that the project is approved,'' said Terry Gruver, chairman of IUE-CWA Local 717. ``The membership recognizes that changing to stay competitive is essential and that connectors is a solid business. The union/management team at Cortland has been working great and we expect nothing less at this new facility.'' The Western Reserve Port Authority will purchase approximately 20 acres of land and construct a building, which will be leased by Delphi. The plant will be located in the airport industrial park near Aero Park Drive and Vienna Parkway, on land purchased from the Lake to River Holding Co. ``Delphi Packard Electric continues to be one of the largest suppliers of automotive wiring globally,'' Spencer said. ``Going forward, there are strong growth opportunities in switches and connectors as well. This new facility will support our connector growth, which is steadily moving beyond the automotive and transportation markets into new areas such as datacom, telecom, computer & peripherals and medical. ``In fact, we recently established the Delphi Connection Systems business unit to establish an identity in new markets, while retaining our reputation in current markets.'' Delphi Connection Systems is one of the largest connection systems suppliers globally, and one of the world's largest automotive connection systems suppliers. Analysts anticipate the global connector market will grow from $33.2 billion in 2000 to $46 billion by 2005. Ground breaking for the new facility is expected during September of this year, with completion of the project slated for the end of 2003. Delphi is expecting to install the first molding machines during the fall of 2002. Delphi Connection Systems was established in April 2001. The business unit engineers, manufactures and tests a comprehensive line of interconnect products including high-density, rugged fiber optic and electrical/electronic connection systems; Gold Dot connectors; electronic assemblies; flexible circuits and smart connectors. It provides comprehensive product solutions to complex customer needs. Delphi has manufacturing facilities and customer service centers in the U.S., Europe and Asia.