Delphi Confirms Continued Discussions

TROY, Mich., Sept. 27 /PRNewswire-FirstCall/ -- Delphi Corp. (NYSE: DPH) acknowledged today that it continues to be in discussions with its major unions and General Motors Corp. concerning a comprehensive restructuring designed to address Delphi's existing U.S. legacy liabilities and the resulting high-cost structure of its U.S. operations going forward.

(Logo: http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO )

Robert S. "Steve" Miller, Delphi's chairman and CEO, said, "While I'm pleased that we continue to be in discussions on a consensual restructuring, as everyone is aware we have been working on this for quite some time and our board is committed to achieving a successful restructuring of Delphi, one way or another."

Delphi also stated that, until a path is chosen for implementing its restructuring, it does not intend to comment further on these matters.

For more information about Delphi, visit Delphi's website at http://www.delphi.com .

FORWARD-LOOKING STATEMENT

All statements contained or referenced in this press release which address events or developments that we expect or anticipate may occur in the future (including statements relating to a potential comprehensive restructuring of Delphi and our ability to address our U.S. legacy liabilities and resulting high cost structure in the U.S., and our restructuring discussions with our unions and General Motors Corporation), are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of management's current views and assumptions with respect to future events. Important factors, risks and uncertainties which may cause actual results to differ from those expressed in our forward- looking statements are set forth in detail in our filings with the SEC, including our annual report on Form 10-K for the year ended December 31, 2004 and our quarterly report on Form 10-Q for the quarter ended June 30, 2005. In particular, these factors, risks and uncertainties include our ability to execute our restructuring plans in a manner which satisfactorily addresses our U.S. legacy liabilities and high cost structure in the U.S. and other matters, while at the same time continuing to be able to diversify our customer base, maintain sufficient GM business and maintain flexibility to respond to adverse and cyclical changes in general economic conditions and in the automotive industry in each market where we operate, as well as other factors, risks and uncertainties discussed in our filings with the SEC. Delphi does not intend or assume any obligation to update any of its forward-looking statements.

CONTACT: Media contact: Claudia Baucus, +1-248-813-2942, or Investor
contact: Brian Eichenlaub, +1-248-813-2495, both of Delphi Corporation

Web site: http://www.delphi.com/media/


Rating:


Review Article Be the first to review this article
Rand3D

IMTS 2018 Register Now>>

Featured Video
Jobs
Mechanical Engineer for Allen & Shariff Corporation at Pittsburgh, Pennsylvania
Mid-Level Mechanical Engineer for Kiewit at lenexa, Kansas
Upcoming Events
Inside 3D Printing Seoul 2018 at Korea International Exhibition Center (KINTEX), Hall 5 408 Hallyuworld-ro, Ilsanseo-gu, Goyang-si, Gyeonggi-do Goyang Korea (South) - Jun 27 - 29, 2018
AMTEX 2018 at Pragati Maidan New Delhi India - Jul 6 - 9, 2018
34th Annual Coordinate Metrology Society Conference 2018 at Grand Sierra Resort, 2500 East Second Street Meeting & Covention Center Reno NV - Jul 23 - 27, 2018
Kenesto: 30 day trial
SolidCAM: Break the Chains



Internet Business Systems © 2018 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise