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.