Übernahme mit Anmeldung
DETROIT – A year after Delphi Corp. Filed for Chapter 11 bankruptcy protection, the giant supplier is quietly dumping unprofitable contracts to produce parts for General Motors. Most recently, Delphi shifted a contract to produce steering knuckles for GM's full-sized trucks to EaglePicher Corp., which itself recently emerged from Chapter 11.
Delphi also has unloaded the final three years of a contract to build catalytic converters for GM's new pickups, said Skip Dziedzic, president of UAW Local 1866 in Milwaukee. It is unclear which supplier will get that contract when Delphi gives it up in the second quarter of 2008. As it struggles to restructure in Chapter 11, Delphi is giving up contracts to make unprofitable commodity parts. With GM's financial help, the suburban Detroit-based supplier also has offered early retirements to thousands of hourly workers. Now Delphi wants to close or sell eight of its 29 U.S. factories so it can concentrate on producing profitable electronic components. As part of the restructuring, Delphi has announced plans to renegotiate or dump 5,472 unprofitable GM parts contracts. General Motors is trying to block Delphi's initiative in U.S. Bankruptcy Court. But the automaker also is transferring some Delphi contracts to other suppliers. For example, GM is helping Delphi find another producer of spark plugs and engine intake manifolds. Siemens VDO Automotive Corp. will make the manifolds for GM's new large SUVs. To make the spark plugs, GM has enlisted four suppliers: Denso Corp., Beru AG, NGK and Honeywell International Inc.
David Barkholz/Robert Sherefkin,
Automotive News 9.10.2006
GM anstrebe. fd/sk, dpa 23.10.2006
delphi aktuell bei 2,7$ und 1,52 mrd $ Bewertung - wo ist mein Denkfehler?
ansonsten wären das ja um die 600-700%?
Ein Delphi-Sprecher wollte die Namen der Verhandlungspartner dem Bericht zufolge weder bestätigen noch dementieren.
fj/stw/ck, dpa 27.11.2006
Ich bin ja damals schon 2-3 tage vor Chapter 11 bei Delphi eingestiegen - was nicht sehr komisch war!
Jetzt bin ich aber schon wieder leicht im Plus (nach ca. -80%). Und ich denke es geht noch weiter rauf.
Heute hiess es ja Cerberus will einen Teil:
->Cerberus will Delphi-Fabriken kaufen
Die Investmentfirma Cerberus Capital Management will einem Bericht zufolge zwölf amerikanische und bis zu zwölf europäische Betriebe des amerikanischen Autozulieferers Delphi Corporation kaufen.
Die Unternehmen nahmen zu den Informationen der US-Wirtschaftsagentur Bloomberg am Montag (4.12.) keine Stellung. Delphi, die ehemalige Autoteile-Sparte von General Motors (GM), befindet sich in einem Insolvenzverfahren. Eine von Cerberus geführte Gruppe hat gerade den Kauf einer 51-prozentigen Beteiligung an der GM- Finanztochter GMAC vollzogen, was dem Autokonzern über drei Jahre rund 14 Milliarden Dollar bringen soll.
http://auto-motor-und-sport.de/news/wirtschaft/...n_kaufen.134613.htm
Published: December 5 2006 20:21 | Last updated: December 5 2006 20:21
Highland Capital Management, a Texas-based fund manager, has disclosed a 6.2 per cent stake in Delphi, joining a flock of investors circling the bankrupt automotive parts maker.
Highland’s investment coincides with growing signs that a deal is at hand to move Delphi’s restructuring forward. An announcement is likely within the next few weeks, one person familiar with the negotiations indicated on Tuesday.
http://suche.paperball.de/cgi-bin/..._web&ur=true&slqc=true&enc=utf-8
Delphi books $3.3 billion in new steering and halfshaft business this year, expects more
By Bill Shea
11:47 am, December 6, 2006
Bankrupt Troy-based auto supplier Delphi Corp. on Wednesday announced that it has booked $3.3 billion in new steering and halfshaft business so far in 2006 — the second-strongest year in company history — and expects to ink more deals by Dec. 31.
Delphi declined to release the names of the customers, citing confidentiality agreements.
“We’re showing remarkable strength during a turbulent time for the entire industry,” said Bob Remenar, president of Delphi Steering division.
Additional contracts prior to year-end should mean a 50 percent gain over 2005, Remenar said.
The bulk of the new deals are five-year contracts, and more than half of the new business is for vehicles built overseas, in Europe, Asia and South America. The products involved include electric and hydraulic power steering systems, steering columns, gears, hoses and halfshafts.
Da will mir doch einer glatt was unter den Baum legen!
Ich sag schon mal Danke.
FTB
jetzt ist alles möglich...
wo sieht ihr das kursziel??
Dass die wertlosen Aktien auf Bulletin Boards trotzdem noch ein beträchtliches Kursniveau erreichen können, ist pure Spekulation, oft gepaart mit Unkenntnis und falscher Hoffnung. Fundamental steckt nichts dahinter.
Das Kursziel ist Null.
NASA Grants Delphi Nearly $1 Million To Further Develop Its Welding Technology
Wednesday December 27, 9:00 am ET
TROY, Mich., Dec. 27 /PRNewswire/ -- After receiving encouraging results, the National Aeronautics and Space Administration (NASA) and the Michigan Research Institute (MRI) will grant Delphi Corporation an additional $950,000 to help fund the continuing development of Deformation Resistance Welding (DRW).
ANZEIGE
(Logo: http://www.newscom.com/cgi-bin/prnh/20020315/DEF002LOGO )
The first two grants for DRW, totaling $2.17 million, were used to perfect existing welding techniques, to create new ones, and to find new innovative ways to use DRW on suspension sub-frames.
The new grant will fund work done by Delphi in cooperation with the Edison Welding Institute (EWI) and SpaceForm, Inc., (SFI), a company formed in 2005 based on DRW technology. Planned projects will develop the technology in the area of ferrous and non-ferrous materials, dissimilar material joints, lean tubular structures and concepts for future manufacturing cells.
"We're very pleased to have NASA's continued support of this program," said Timothy Forbes, director, commercialization and licensing, Delphi Technologies, Inc. "This continued commitment to DRW for a third phase of projects will allow us to make even more progress for the future of this technology."
Delphi's DRW process, developed with funding from NASA's Space Exploration program with its goals to return to the moon and eventually Mars, can deliver reliable, repeatable, leak-free welds at significantly lower cost than conventional welding solutions. Its uniqueness comes from its ability to weld similar and dissimilar materials and shapes.
NASA plans to use what is learned from Delphi's work with DRW as part of its Space Power Development Programs. Of specific interest is advanced welding of dissimilar metal joints for integrating titanium based cooling loops with power conversion systems utilizing stainless steel structures. According to researchers, titanium cooling loops offer higher levels of chemical compatibility, along with greater temperature and structural capability than aluminum tubing. This is of particular interest because traditional mechanical joining provides insufficient hermeticity for long life missions.
In addition, the DRW technology is beneficial to all areas of manufacturing including: load-bearing structural applications, mobile medical products, automobiles, bicycles, motorcycles, commercial and recreational vehicles because of its ability to handle tube-to-tube and tube-to-sheet welding.
"This latest grant from NASA will allow Delphi to work with EWI and SpaceForm to expand the capabilities of DRW," said Jayson Pankin, new venture creation specialist, Delphi. "Delphi will be in a stronger position to provide innovative joining and structural solutions to a broader set of customers."
This Delphi project, funded by the latest NASA grant, is expected to be completed by the end of 2007.
Please visit these websites for more information on Delphi (Pink Sheets: DPHIQ - News), DRW, EWI and SpaceForm, Inc.
www.delphi.com
www.ewi.org
www.spaceformtech.com
This press release, as well as other statements made by Delphi may contain forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, that reflect, when made, the Company's current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company's operations and business environment which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the ability of the Company to operate pursuant to the terms of the debtor-in-possession ("DIP") facility; the Company's ability to obtain court approval with respect to motions in the chapter 11 proceeding prosecuted by it from time to time; the ability of the Company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the chapter 11 cases; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, for the appointment of a chapter 11 trustee or to convert the cases to chapter 7 cases; the ability of the Company to obtain and maintain normal terms with vendors and service providers; the Company's ability to maintain contracts that are critical to its operations; the potential adverse impact of the chapter 11 cases on the Company's liquidity or results of operations; the ability of the Company to fund and execute its business plan; the ability of the Company to attract, motivate and/or retain key executives and associates; and the ability of the Company to attract and retain customers. Other risk factors are listed from time to time in the Company's United States Securities and Exchange Commission reports, including, but not limited to the Annual Report on Form 10-K for the year ended December 31, 2004 and its most recent quarterly report on Form 10-Q for the quarter ended September 30, 2005 and current reports on Form 8-K. Delphi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise.
Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Company's various pre-petition liabilities, common stock and/or other equity securities. Additionally, no assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. A plan of reorganization could result in holders of Delphi's common stock receiving no distribution on account of their interest and cancellation of their interests. As described in the Company's public statements in response to the request submitted to the United States Trustee for the appointment of a statutory equity committee, holders of Delphi's common stock and other equity interests (such as options) should assume that they will not receive value as part of a plan of reorganization. In addition, under certain conditions specified in the Bankruptcy Code, a plan of reorganization may be confirmed notwithstanding its rejection by an impaired class of creditors or equity holders and notwithstanding the fact that equity holders do not receive or retain property on account of their equity interests under the plan. In light of the foregoing and as stated in its October 8, 2005 press release announcing the filing of its chapter 11 reorganization cases, the Company considers the value of the common stock to be highly speculative and cautions equity holders that the stock may ultimately be determined to have no value. Accordingly, the Company urges that appropriate caution be exercised with respect to existing and future investments in Delphi's common stock or other equity interests or any claims relating to prepetition liabilities.
Source: Delphi Corporation
Delphi Inspires Innovation With Integrated Controls, Displays and Security Systems
Tuesday January 2, 10:01 am ET
Delphi demonstrates leading edge technologies on Ford's Mustang GT
LAS VEGAS, Jan. 2 /PRNewswire/ -- At the 2007 International Consumer Electronics Show, Delphi Corporation will demonstrate its one-piece electronic Integrated Center Panel with dual control and display zones.
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The system is another example of Delphi technology that can help vehicle manufacturers lower production costs, simplify assembly and differentiate their products in today's competitive global marketplace.
Delphi is showing this unique technology on a Ford Mustang GT at its exhibit (#5206) at the Las Vegas Convention Center. The vehicle also features Delphi's award-winning selectable color instrument cluster, and ultrasonic content theft detection and inclination sensing, both of which are available on the current production Mustang.
In addition, Delphi has included a keyless entry fob which includes a display for vehicle information.
Integrated Controls
Delphi's Integrated Center Panel delivers a host of benefits to automakers. It replaces separate HVAC, radio, entertainment and communications, accessory switches and other functional switches with a single mechatronic module. This eliminates clutter on the instrument panel and enhances interior aesthetics.
The innovative design also reduces wiring harness mass and cost, provides for easier vehicle assembly, and greatly reduces the difficulty of matching colors and finishes across a variety of separate components. And, because the system offers a wide array of packaging options, it can help automakers deliver distinctive vehicles that stand out from the competition.
"We continue to find ways to help our customers provide new technology while staying competitive in the market," said Jugal Vijayvargiya, Delphi Electronics & Safety vice president of Controls & Security product business unit. "Our Integrated Center Panel with dual view brings both - innovation and value together."
The Integrated Center Panel is available with touch-screen and traditional switching interfaces. Delphi can integrate switch functions for a centrally mounted touch screen which allows for intuitive selection of climate, audio, video, navigation, telephone and vehicle personalization settings.
The touch screen system also features Delphi's patent-pending Driver/Passenger Discrimination sensing. This feature enables the driver and passenger to use the same controls to generate different responses from the vehicle - for example permitting the passenger to use vehicle navigation features that are inaccessible to the driver while the vehicle is in motion. By applying active infrared sensors on the integrated center panel and an adaptive human machine interface design, Delphi's innovative technology can discriminate between driver and passenger control inputs, offering a "dual- zone control" capability.
Another unique patent-pending feature is detection of a driver attempting to lean over to view the passenger's display. This technology disables the display when this occurs.
Displays: Color Selectable Instrument Cluster
The Mustang GT on display features Delphi's award-winning color-selectable instrument cluster. The cluster display has been expanded to include color- selectable cockpit switch backlighting controlled by an intuitive human machine interface (HMI). The instrument cluster and cockpit switches can be subtly or dramatically illuminated using red, green and blue light-emitting diodes (LEDs). Using Delphi's innovative "light pipe" technology, the driver can mix and blend the intensity of red, green and blue LEDs to create up to 240 different custom-colored illumination schemes. This unique feature allows the driver to modify all of the cockpit illumination from door-to-door to provide a personalized interior environment. The color selection is all controlled via a simple, intuitive control scheme within the Integrated Center Panel control and display.
"Interior aesthetics and lighting provide a huge level of overall owner satisfaction, Vijayvargiya said. "By offering customization, Delphi's instrument cluster technology provides this enjoyment for each individual driver."
Security Systems
Using a transponder and hidden antennas which communicate bi- directionally, Delphi's Keyless Entry System with Vehicle Information Display enables the vehicle to be locked from further away than before. It also enables the driver to access critical information about the vehicle at ranges greater than 500 meters.
Delphi's two-way communication key fob provides the vehicle owner with actual status of the car such as whether the car is locked or the alarm is activated. Other information included in the display are interior temperature, alarm condition, fuel level and vehicle location. The information is displayed in a large, easy-to-read organic LED display on the driver's personal fob while using very little current to prolong battery life. The two-way communication device also includes a communication range management feature which ensures that returned information to the car is always received by the identification device. The Delphi show car is started by pressing a start switch when the key fob is in range.
Delphi's ultrasonic content theft detection sensors on the vehicle provide security by detecting movement within the passenger compartment while the Delphi inclination sensors improve vehicle theft protection level with the ability to trigger the alarm in case of wheel thefts or towing thefts. This sensor can be used as a standalone feature or as an integrated component of the total alarm systems.
"Delphi security products value is immeasurable as they provide drivers with peace of mind regarding their vehicles," said Vijayvargiya.
Delphi is a leader in automotive alarm systems supplying more than 2.5 million alarm systems in 2006 and has delivered over 20 million systems since the product was launched.
For more information about Delphi (OTC: DPHIQ - News), visit www.delphi.com.
FORWARD-LOOKING STATEMENT
This press release, as well as other statements made by Delphi may contain forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, that reflect, when made, the company's current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the company's operations and business environment which may cause the actual results of the company to be materially different from any future results, express or implied, by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the company to continue as a going concern; the ability of the company to operate pursuant to the terms of the debtor-in-possession ("DIP") financing facility; the company's ability to obtain court approval with respect to motions in the chapter 11 proceeding prosecuted by it from time to time; the ability of the company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the Chapter 11 cases; risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for the company to propose and confirm one or more plans of reorganization, for the appointment of a chapter 11 trustee or to convert the cases to chapter 7 cases; the ability of the company to obtain and maintain normal terms with vendors and service providers; the company's ability to maintain contracts that are critical to its operations; the potential adverse impact of the Chapter 11 cases on the company's liquidity or results of operations; the ability of the company to execute its business plans, including the transformation plan described in the Company's March 31, 2006 press release, and to do so in a timely fashion; the ability of the company to attract, motivate and/or retain key executives and associates; the ability of the company to avoid or continue to operate during a strike, or partial work stoppage or slow down by any of its unionized employees; and the ability of the company to attract and retain customers. Other risk factors are listed from time to time in the company's United States Securities and Exchange Commission reports, including, but not limited to the Annual Report on Form 10-K for the year ended December 31, 2005. Delphi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise. Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the company's various pre- petition liabilities, common stock and/or other equity securities. Additionally, no assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. A plan of reorganization could result in holders of Delphi's common stock receiving no distribution on account of their interest and cancellation of their interests. Under certain conditions specified in the Bankruptcy Code, a plan of reorganization may be confirmed notwithstanding its rejection by an impaired class of creditors or equity holders and notwithstanding the fact that equity holders do not receive or retain property on account of their equity interests under the plan. In light of the foregoing and as stated in its October 8, 2005, press release announcing the filing of its Chapter 11 reorganization cases, the company considers the value of the common stock to be highly speculative and cautions equity holders that the stock may ultimately be determined to have no value. Accordingly, the company urges that appropriate caution be exercised with respect to existing and future investments in Delphi's common stock or other equity interests or any claims relating to pre-petition liabilities.
Source: Delphi Corporation
es ist zeit für mehr norden...
Angehängte Grafik:
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Delphi Wins Total Occupant Protection System and Navigation Business With Chery Automobile
Monday January 8, 9:06 am ET
Delphi Named Major Safety Supplier for China's Fastest Growing Domestic Auto Company
SHANGHAI, CHINA--(MARKET WIRE)--Jan 8, 2007 -- Chery Automotive has awarded Delphi Corporation (Other OTC:DPHIQ.PK - News) a contract to provide complete Occupant Protection Systems (OPS) and an integrated navigation system for several of Chery's platforms starting in 2009, Delphi officials announced today.
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Delphi will integrate comprehensive Occupant Protection Systems that match the needs of each of Chery's vehicles
Beginning in 2009, Delphi will supply all driver and passenger airbags, curtain airbags, side airbags, passenger seat occupant detection systems, airbag control units, side- and frontal-impact sensors, and seat-track position sensors on all vehicles that Chery is currently producing.
For select Chery vehicles to be announced at a later date, Delphi will also supply a camera-based back-up aid system and navigation system. Delphi's integrated navigation radio LCD display will also serve as a source for looking at what is behind the vehicle while backing and map display.
"It is truly exciting to be named a major safety supplier for China's fastest growing domestic auto company," said Dan Salmons, Delphi Electronics & Safety managing director of Asia/Pacific. "Our job now is to execute and help Chery continue on its expansion into new markets. This business also helps Delphi further diversify our customer portfolio."
Since 1997, Chery Automobile Co., Ltd has grown its volume from 50,000 units in 2002 to almost 300,000 in 2006. Chery expects to increase its production and sales volume to 1 million units in 2010.
The company produces seven vehicles including Eastar, Tiggo, A5, Cowin, V5, QQ3 and QQ6.
Chery started exporting vehicles in 2001. Last year, the company shipped nearly 20,000 units to more than 50 countries. Future plans call for Chery to export vehicles to the United States, the world's largest car market.
"Chery chose Delphi over our competitors because of our price competitiveness, capability and knowledge of the North American market," said Charles Goad, Delphi Electronics & Safety Entertainment & Communications executive. "Our capability to offer complete systems was a distinct advantage for Delphi."
Delphi designed and manufactured its first airbags in 1974. Today, the company produces more than 20 million airbag systems per year to help vehicle manufacturers meet requirements specified by the U.S. Federal government.
Delphi offers a number of frontal airbag designs with adaptive features like cushion deployment volume, inflation output and venting based on crash conditions. Delphi's dual depth airbags are designed to enhance protection of a vehicle's front seat occupants -- no matter what their size -- in moderate to severe crash situations. Delphi's frontal airbags are compatible with customer instrument panels and therefore ease of assembly.
Designed to deploy from the vehicle's roof rail, Delphi's curtain airbags provide head protection and can be used in combination with Delphi's door-or-seat mounted side impact airbags.
Delphi's passive occupant detection system is designed to help automakers meet U.S. regulations. A sensing system built into the seat detects loading force on the front passenger seat and classifies the seat as empty or the occupant as an adult or child. The system helps reduce potential for airbag-induced injury by suppressing the airbag if the occupant is below a weight threshold. It also prevents deploying the airbag unnecessarily by suppressing the airbag if the seat is empty.
The nerve center of Delphi's occupant protection system is the airbag control unit. This sophisticated electronic unit interfaces with Delphi's frontal impact sensors, side impact sensors and occupant status sensors, vehicle indicators and the deployable safety devices. Using crash-sensing algorithms, the airbag control unit assesses crash event severity and direction and uses this strategy to deploy frontal, side or devices to disconnect the battery. Delphi's Forewarn Back-Up Aid uses a monocular camera to help prevent back up accidents. This assists the driver in seeing what is behind the vehicle on a screen in the instrument panel while backing up.
The Chery integrated radio navigation system sourced from Delphi will include touch screen operation DVD, USB, MP3, SD and rear seat entertainment controls.
Delphi began investing in China in 1993 and now has 15 facilities across the country. These operations manufacture more than 40 categories of products for customers in China and overseas.
For more information about Delphi, visit www.delphi.com/media.
FORWARD LOOKING STATEMENT
This press release, as well as other statements made by Delphi, may contain forward-looking statements that reflect, when made, the company's current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the company's operations and business environment which may cause the actual results of the company to be materially different from any future results, express or implied, by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the company to continue as a going concern; the ability of the company to operate pursuant to the terms of the debtor-in-possession facility; the company's ability to obtain court approval with respect to motions in the chapter 11 cases prosecuted by it from time to time; the ability of the company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the Chapter 11 cases; the company's ability to satisfy the terms and conditions of the Equity Purchase and Commitment Agreement with its Plan Investors; the company's ability to satisfy the terms and conditions of the Plan Framework Support Agreement with GM and its Plan Investors (including the company's ability to achieve consensual agreements with GM and its U.S. labor unions on a timely basis that are acceptable to the Plan Investors in their sole discretion); risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for the company to propose and confirm one or more plans of reorganization, for the appointment of a chapter 11 trustee or to convert the cases to chapter 7 cases; the ability of the company to obtain and maintain normal terms with vendors and service providers; the company's ability to maintain contracts that are critical to its operations; the potential adverse impact of the Chapter 11 cases on the company's liquidity or results of operations; the ability of the company to fund and execute its business plan (including the transformation plan described in Item 1. Business "Potential Divestitures, Consolidations and Wind-Downs" of the Annual Report on Form 10-K for the year ended December 31, 2005 filed with the SEC) and to do so in a timely manner; the ability of the company to attract, motivate and/or retain key executives and associates; the ability of the company to avoid or continue to operate during a strike, or partial work stoppage or slow down by any of its unionized employees; and the ability of the company to attract and retain customers. Other risk factors are listed from time to time in the company's United States Securities and Exchange Commission reports, including, but not limited to the Annual Report on Form 10-K for the year ended December 31, 2005. Delphi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise.
Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the company's various pre-petition liabilities, common stock and/or other equity securities. Additionally, no assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. A plan of reorganization could result in holders of Delphi's common stock receiving no distribution on account of their interests and cancellation of their interests. Under certain conditions specified in the Bankruptcy Code, a plan of reorganization may be confirmed notwithstanding its rejection by an impaired class of creditors or equity holders and notwithstanding the fact that equity holders do not receive or retain property on account of their equity interests under the plan. In light of the foregoing and as stated in its October 8, 2005, press release announcing the filing of its Chapter 11 reorganization cases, the company considers the value of the common stock to be highly speculative and cautions equity holders that the stock may ultimately be determined to have no value. Accordingly, the company urges that appropriate caution be exercised with respect to existing and future investments in Delphi's common stock or other equity interests or any claims relating to pre-petition liabilities.
Contact:
CONTACT:
Milton Beach
Delphi Corporation
765.451.0655
Email Contact
Source: Delphi Corporation
Delphi's TV Reception System Chosen in Europe
Tuesday January 9, 9:24 am ET
Delphi's Hybrid System Features Both Analog and Digital Reception
LAS VEGAS, NV--(MARKET WIRE)--Jan 9, 2007 -- Delphi's (Other OTC:DPHIQ.PK - News) Fuba(TM) TV reception has been selected by BMW for future car-models, Delphi officials announced here today at the 2007 International Consumer Electronics Show.
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As more luxury cars include TV reception systems as options in their vehicles, Delphi is at the forefront with its unique technology. Delphi is exhibiting at the CES Show at the Las Vegas Convention Center, (North Hall, Exhibit 5206) Jan. 8-11.
The Delphi Fuba reception systems provide the near-DVD color picture quality with stereo sound that is expected by discriminating car owners. The reception system uses multiple in-glass or composite body structure antennas, integrated amplifiers and ScanDiv(TM) scanning diversity technology to provide the highest quality color TV reception in vehicles.
Delphi's patented ScanDiv technology automatically selects the best audio and video signal from four antennas to provide passengers in-home-like TV quality. The reception system is easily adapted to local markets and compatible with available rear-seat entertainment systems.
Many European urban regions are still transitioning from analog TV to digital TV. As analog TV stations are switching to digital transmission, Delphi's hybrid Digital/Analog Mobile Reception Systems are capable of receiving both signals seamlessly.
Infrared remote control makes on-screen programming easy. With 12 fixed storage locations and 10 auto store locations, the system automatically stores the strongest stations in the area where the vehicle is located. In addition, the system is equipped with brightness, contrast and saturation control to help provide the clearest picture possible, day or night, and under varied reception conditions. It also comes with a DVB-T set top box for mobile analog TV systems.
"We are excited about the opportunity to help BMW offer its customers the most excellent color TV reception available," said Dr. Andreas Hunscher, director of Delphi Fuba located in the German Federal State Niedersachsen.
"BMW motor vehicles are known globally for adopting the latest features, and Delphi's reception systems align well with BMW's commitment to innovation," he said.
Delphi Fuba's multi-standard receiver is compatible with NTSC, PAL and SECAM and has interface outputs for audio and two monitors. It also has two interface inputs for video signals that will allow input from an optional source such as SVHF or RGB.
Digital TV is being transmitted alongside analog in the United Kingdom, Spain, Sweden, Finland and parts of Germany, France, Italy, Portugal, Switzerland, the Netherlands, Denmark and Norway.
Delphi's Fuba TV reception systems are produced at its facility in Bad Salzdetfurth, Germany.
Delphi's Fuba Reception Systems offer exceptional reception for vehicle communication systems -- including AM/FM, cellular, GPS, television, satellite and digital services -- while enhancing vehicle styling with aesthetically pleasing designs.
For more information about Delphi (Other OTC:DPHIQ.PK - News), visit www.delphi.com.
FORWARD-LOOKING STATEMENT
This press release, as well as other statements made by Delphi, may contain forward-looking statements that reflect, when made, the company's current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the company's operations and business environment which may cause the actual results of the company to be materially different from any future results, express or implied, by such forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the company to continue as a going concern; the ability of the company to operate pursuant to the terms of the debtor-in-possession facility; the company's ability to obtain court approval with respect to motions in the chapter 11 cases prosecuted by it from time to time; the ability of the company to develop, prosecute, confirm and consummate one or more plans of reorganization with respect to the Chapter 11 cases; the company's ability to satisfy the terms and conditions of the Equity Purchase and Commitment Agreement with its Plan Investors; the company's ability to satisfy the terms and conditions of the Plan Framework Support Agreement with GM and its Plan Investors (including the company's ability to achieve consensual agreements with GM and its U.S. labor unions on a timely basis that are acceptable to the Plan Investors in their sole discretion); risks associated with third parties seeking and obtaining court approval to terminate or shorten the exclusivity period for the company to propose and confirm one or more plans of reorganization, for the appointment of a chapter 11 trustee or to convert the cases to chapter 7 cases; the ability of the company to obtain and maintain normal terms with vendors and service providers; the company's ability to maintain contracts that are critical to its operations; the potential adverse impact of the Chapter 11 cases on the company's liquidity or results of operations; the ability of the company to fund and execute its business plan (including the transformation plan described in Item 1. Business "Potential Divestitures, Consolidations and Wind-Downs" of the Annual Report on Form 10-K for the year ended December 31, 2005 filed with the SEC) and to do so in a timely manner; the ability of the company to attract, motivate and/or retain key executives and associates; the ability of the company to avoid or continue to operate during a strike, or partial work stoppage or slow down by any of its unionized employees; and the ability of the company to attract and retain customers. Other risk factors are listed from time to time in the company's United States Securities and Exchange Commission reports, including, but not limited to the Annual Report on Form 10-K for the year ended December 31, 2005. Delphi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise.
Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the company's various pre-petition liabilities, common stock and/or other equity securities. Additionally, no assurance can be given as to what values, if any, will be ascribed in the bankruptcy proceedings to each of these constituencies. A plan of reorganization could result in holders of Delphi's common stock receiving no distribution on account of their interests and cancellation of their interests. Under certain conditions specified in the Bankruptcy Code, a plan of reorganization may be confirmed notwithstanding its rejection by an impaired class of creditors or equity holders and notwithstanding the fact that equity holders do not receive or retain property on account of their equity interests under the plan. In light of the foregoing and as stated in its October 8, 2005, press release announcing the filing of its Chapter 11 reorganization cases, the company considers the value of the common stock to be highly speculative and cautions equity holders that the stock may ultimately be determined to have no value. Accordingly, the company urges that appropriate caution be exercised with respect to existing and future investments in Delphi's common stock or other equity interests or any claims relating to pre-petition liabilities.
Contact:
CONTACT:
Milton Beach
Delphi Corporation
765.451.0655
Email Contact
Source: Delphi Corporation
Bankruptcy Judge Robert Drain changed the hearing date to Jan. 11 from Jan. 5, according to a company Web site dedicated to the bankruptcy case. The delay followed an alternative funding plan proposed on Dec. 21 by hedge fund Highland Capital Management LP.
With a 9 percent stake, Appaloosa is Delphi's biggest shareholder, while Highland is second with a 7 percent stake, though that rises to 8.8 percent after including affiliates.
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Dallas-based Highland proposed a $4.7 billion reorganization plan for Delphi, the biggest parts supplier to General Motors Corp. (GM.N: Quote, Profile , Research), setting the stage for a fight for control of the auto parts supplier between its two largest investors as Delphi emerges from bankruptcy.
The Highland plan counters a $3.4 billion equity investment deal Delphi reached with a group led by Appaloosa and Cerberus Capital Management LP.