Delphi in $100m Asian deals

Delphi in $100m Asian deals

MAKUHARI, Japan (AFP): The world's top auto parts supplier Delphi Automotive Systems Thursday announced a string of new Asian contracts worth US$100 million and predicted tough industry consolidation.

The U.S. firm, which until February this year was owned by auto giant General Motors Corp., said it has now signed three major contracts and negotiated seven acquisitions, joint ventures or partnerships in Asia this year.

Delphi announced a 40-million-dollar contract with India's Maruti Udyog Ltd. to supply heating and air-conditioning systems. It has secured $35 million worth of contracts with carmakers in China to provide two environmental products and a 23-million- dollar contract to supply electrical system components to South Korea's Kia Motors Corp.

"We are committed to long-term growth in Asia-Pacific," Delphi's chief executive officer JT Battenberg told a news conference at the Tokyo Motor Show here.

In total the firm has booked more than $1 billion worth of new business in the Asia-Pacific in the first nine months of the year, he said.