Delphi (auto parts)
Encyclopedia
Delphi Automotive PLC is an automotive parts company headquartered in Troy, Michigan
, USA
. Delphi is one of the world's largest automotive parts manufacturers and has approximately 146,600 employees (18,900 in the United States).
With offices worldwide, the company operates 150 wholly owned manufacturing sites, 44 joint venture
s, 53 customer centers and sales offices, and 33 technical centers in 38 countries.
The company is focusing the organization on the following core strategic
product lines:
For the list of Delphi Senior Managers see Delphi Senior Leadership.
implementing the sale (or receiving Bankruptcy Court approval to sell) or wind down of those facilities
and business lines that do not support the company’s future strategic framework, including:
On November 4, 2009 Delphi named a new board. John A. Krol is the chairman of the new board.
Rodney O'Neal is the President and chief executive officer
of the company (since January 1, 2007), replacing Robert S. "Steve" Miller.
The investment bank, Rothschild, Inc.
, is currently advising Delphi in its Chapter 11 restructuring
identified Delphi corp. as the 21st-largest corporate producer of air pollution
in the United States in 2002. According to the study, the manufacturer's most toxic emissions include asbestos
(542 lb/yr), chromium
compounds (1,082 lb/yr), lead
compounds (8,466 lb/yr), and sulfuric acid
(17,600 lbs/year), while the most massive emissions are glycol ethers
(111,520 lbs/year) and hydrochloric acid
(80,000 lb/yr).
, Cádiz
, Spain
, with a loss of 1600 direct jobs and more than 2500 indirect jobs. despite having agreed to continue its manufacturing operations until 2010 and receiving more than EUR 25 million from various public administrations in order to guarantee its workers' jobs.
The Andalusia
n autonomous government
announced it would begin legal action against the company for breach of local labor laws.
On October 8, 2005 Delphi filed for bankruptcy. Slowly, cutting jobs and shutting down many plants around the Dayton area and nationally (Roberson). The increased competition between the U.S. and other countries in the automobile industry has been a factor in Delphi’s bankruptcy (Wehrman D1). Due to the economic slump, all but five of the plants in the Dayton area have closed.
In May 2008, Delphi filed a lawsuit against investors. The lawsuit seeks to impose payment by investors in the amount of $2.55 billion in securities to aid Delphi as it seeks to come out of bankruptcy
. U.S. Bankruptcy Judge Robert Drain in New York
ruled to allow Delphi to seek payments through a contract against Appaloosa Management LP
as well as denying investors' request for a cap of $250 million for damages.
distribution companies in Brazil
, China
, France
, Germany
, Italy
, Spain
, Mexico
, Turkey
, UK
and USA.
Troy, Michigan
Troy is a city in Oakland County in the U.S. state of Michigan, and is a suburb of Detroit. The population was 80,980 at the 2010 census, making it the 11th-largest city in Michigan by population, and the largest city in Oakland County...
, USA
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
. Delphi is one of the world's largest automotive parts manufacturers and has approximately 146,600 employees (18,900 in the United States).
With offices worldwide, the company operates 150 wholly owned manufacturing sites, 44 joint venture
Joint venture
A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...
s, 53 customer centers and sales offices, and 33 technical centers in 38 countries.
History
- 1994: General Motors forms Automotive Components Group.
- 1995: ACG is renamed Delphi Automotive Systems.
- 1997: GM and Hughes Electronics Corporation spin-off of Hughes Defense electronics business and transfer Delco ElectronicsDelco ElectronicsDelco Electronics Corporation was the automotive electronics design and manufacturing subsidiary of General Motors based in Kokomo, Indiana.The name Delco came from the Dayton Engineering Laboratories Co., founded in Dayton, Ohio by Charles Kettering and Edward A...
from Hughes to Delphi. - 1999: Delphi Automotive Systems becomes fully independent publicly held corporation.
- 2000: Delphi purchased UK based Lucas Diesel Systems from TRW Inc who purchased its parent LucasVarity plc in 1999.
- 2001: 11,500 jobs were cut worldwide (Bischoff 1A).
- 2002: Delphi Automotive Systems is renamed Delphi Corporation reflecting its diversified business direction.
- 2004: Delphi is subpoenaed by the Securities & Exchange Commission (SEC)United States Securities and Exchange CommissionThe U.S. Securities and Exchange Commission is a federal agency which holds primary responsibility for enforcing the federal securities laws and regulating the securities industry, the nation's stock and options exchanges, and other electronic securities markets in the United States...
in July for irregular accounting practices and financial transactions. - 2005: Delphi discloses irregular accounting practices. A number of executives, including CFO Alan Dawes, resign. Delphi Chairman J.T. Battenberg J.T. BattenbergJ.T. Battenberg III was the Chairman, CEO, and President of Delphi Corporation from 1998 to 2005.-Early life and career:Battenberg obtained a Bachelor of Science from Kettering University in 1966 and an Master of Business Administration from Columbia Business School in 1969. He joined General...
retires. Delphi files for Chapter 11 bankruptcyBankruptcyBankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
protection to reorganize its struggling U.S. operations. As a result of this action, the Securities and Exchange Commission granted an application by the New York Stock ExchangeNew York Stock ExchangeThe New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
to delist Delphi's common stockCommon stockCommon stock is a form of corporate equity ownership, a type of security. It is called "common" to distinguish it from preferred stock. In the event of bankruptcy, common stock investors receive their funds after preferred stock holders, bondholders, creditors, etc...
and bondsBond (finance)In finance, a bond is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest to use and/or to repay the principal at a later date, termed maturity...
. The stock traded over the counterOver-the-counter (finance)Within the derivatives markets, many products are traded through exchanges. An exchange has the benefit of facilitating liquidity and also mitigates all credit risk concerning the default of a member of the exchange. Products traded on the exchange must be well standardised to transparent trading....
on the Pink SheetsPink SheetsOTC Markets Group, Inc., informally known as "Pink Sheets", is a private company that provides services to the U.S. over-the-counter securities market including electronic quotations, trading, messaging, and information platforms. According to the U.S. Securities and Exchange Commission, OTC...
electronic exchange. - 2005: Twenty-four plants closed down in the U.S.
- 2006: Delphi announced it would sell off or close 21 of its 29 plants in the United StatesUnited StatesThe United States of America is a federal constitutional republic comprising fifty states and a federal district...
. The eight plants it intends to keep are located in Brookhaven, MississippiBrookhaven, MississippiBrookhaven is a small city in Lincoln County, Mississippi, United States. The population was 9,861 at the 2000 census. It is the county seat of Lincoln County...
; Clinton, MississippiClinton, MississippiClinton is a city in Hinds County, Mississippi, United States. Situated in the Jackson metropolitan area, it is the tenth largest city in Mississippi. The population was 23,347 at the 2000 United States Census.-History:...
; Grand Rapids, MichiganGrand Rapids, MichiganGrand Rapids is a city in the U.S. state of Michigan. The city is located on the Grand River about 40 miles east of Lake Michigan. As of the 2010 census, the city population was 188,040. In 2010, the Grand Rapids metropolitan area had a population of 774,160 and a combined statistical area, Grand...
; Kokomo, IndianaKokomo, IndianaKokomo is a city in and the county seat of Howard County, Indiana, United States, Indiana's 13th largest city. It is the principal city of the Kokomo, Indiana Metropolitan Statistical Area, which includes all of Howard and Tipton counties....
; Lockport, New YorkLockport (city), New YorkLockport is a city in Niagara County, New York, United States. The population was 21,165 at the 2010 census. The name is derived from a set of Erie canal locks within the city. Lockport is the county seat of Niagara County and is surrounded by the town of Lockport...
; Rochester, New YorkRochester, New YorkRochester is a city in Monroe County, New York, south of Lake Ontario in the United States. Known as The World's Image Centre, it was also once known as The Flour City, and more recently as The Flower City...
; Warren, OhioWarren, OhioAs of the census of 2000, there were 46,832 people, 19,288 households and 12,035 families residing in the city. The population density was 2,912.4 people per square mile . There were 21,279 housing units at an average density of 1,322.9 per square mile...
; and Vandalia, OhioVandalia, OhioVandalia is a city in Montgomery County, Ohio, United States, and a suburb of Dayton. Its population was 15,246 during the 2010 census. The James M. Cox Dayton International Airport is located in the city...
. Delphi proposes that these remaining plants will operate with wage reductions and workforce reductions. - October 6, 2009: Delphi's core assets were purchased by a group of private investors to create a new Delphi Corporation. Some of its non-core steering operations have been sold to General Motors Company, the successor to the bankrupt Motors Liquidation CompanyMotors Liquidation CompanyMotors Liquidation Company , formerly MTLQQ on OTC Pink, was the company left to settle past liability claims from General Motors Chapter 11 reorganization...
that used to be the old General Motors Corporation. The stock was cancelled. The old Delphi Corporation was renamed DPH Holdings Corporation. - May 2011: The company filed with the SEC to raise up to $100 million in an initial public offering..
- November 2011: Delphi set terms for its IPO, expecting to raise $554 million by offering 24.1 million shares at a price range of $22 to $24.
Corporate structure and leadership
Delphi is structured into the following groups:- Consumer Products
- Manufacturer Products
- Aftermarket & Dealer Products
The company is focusing the organization on the following core strategic
product lines:
- Controls & Security (Body Security, Mechatronics, and Displays)
- Electrical/Electronic Architecture (Electrical/Electronic Distribution Systems, Connection Systems, and Electrical Centers)
- Entertainment & Communications (Audio, Navigation, and Telematics)
- Powertrain (Diesel and Gasoline Engine Management Systems)
- Safety (Occupant Protection and Safety Electronics)
- Thermal (Climate Control & Powertrain Cooling)
For the list of Delphi Senior Managers see Delphi Senior Leadership.
Chapter 11 reorganization
During the Chapter 11 cases, Delphi has made substantial progress in identifying andimplementing the sale (or receiving Bankruptcy Court approval to sell) or wind down of those facilities
and business lines that do not support the company’s future strategic framework, including:
- The sale of the brake hose manufacturing business in Dayton, OhioDayton, OhioDayton is the 6th largest city in the U.S. state of Ohio and the county seat of Montgomery County, the fifth most populous county in the state. The population was 141,527 at the 2010 census. The Dayton Metropolitan Statistical Area had a population of 841,502 in the 2010 census...
to Harco Manufacturing Group, announced in January 2007. - The settlement of a social plan in the "Concurso," or Spanish insolvency proceeding, of Delphi Automotive Systems Espana S.L.
- The sale of the Mexican brake components business, including a manufacturing plant in Saltillo, Coahuila, MexicoMexicoThe United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
, to Robert Bosch LLCRobert Bosch GmbHRobert Bosch GmbH is a multinational engineering and electronics company headquartered in Gerlingen, near Stuttgart, Germany. It is the world's largest supplier of automotive components...
and its affiliate Frenados Mexicanos, S.A. de C.V., announced in June 2007. - The sale of substantially all of the assets of MobileAria, Inc. to Wireless Matrix USA, Inc.;
- The sale of the U.S. Battery operations in New Brunswick, New JerseyNew Brunswick, New JerseyNew Brunswick is a city in Middlesex County, New Jersey, USA. It is the county seat and the home of Rutgers University. The city is located on the Northeast Corridor rail line, southwest of Manhattan, on the southern bank of the Raritan River. At the 2010 United States Census, the population of...
to Johnson ControlsJohnson ControlsJohnson Controls, Inc. is a company, based in Milwaukee, Wisconsin, USA. It was founded in 1885 by professor Warren S. Johnson, inventor of the first electric room thermostat....
, Inc. in 2006. - The wind-down of a Delphi Medical TexasTexasTexas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
facility in Houston, TexasHouston, TexasHouston is the fourth-largest city in the United States, and the largest city in the state of Texas. According to the 2010 U.S. Census, the city had a population of 2.1 million people within an area of . Houston is the seat of Harris County and the economic center of , which is the ... - The consolidation of fuel injector production in Rochester, New YorkRochester, New YorkRochester is a city in Monroe County, New York, south of Lake Ontario in the United States. Known as The World's Image Centre, it was also once known as The Flour City, and more recently as The Flower City...
during 2006-2007, which allowed the Debtors to wind down a manufacturing facility in Coopersville, MichiganCoopersville, MichiganCoopersville is a city located in north central Ottawa County in the U.S. state of Michigan. The population was 4,275 at the 2010 census. It is primarily a farming community.... - The sale of the catalyst business to Umicore Group, completed in October, 2007.
- The sale of the Wheel bearingWheel bearingThe term wheel bearing may refer to any one of the following:*A Ball bearing*A Bearing *A Fluid bearing*A Jewel bearing*A Journal bearing*A Needle roller bearing*A plain bearing*Any Rolling-element bearing*A Self-aligning ball bearing...
s business based in Sandusky, OhioSandusky, OhioSandusky is a city in the U.S. state of Ohio and the county seat of Erie County. It is located in northern Ohio and is situated on the shores of Lake Erie, almost exactly half-way between Toledo to the west and Cleveland to the east....
to Kyklos, Inc., which is a wholly owned subsidiary of Hephaestus Holdings, Inc., in February 2008. - The sale of the Global Steering and Halfshaft Business to Steering Solutions Corporation, a wholly owned subsidiary of Platinum EquityPlatinum EquityPlatinum Equity, LLC is a private equity investment firm founded by Tom Gores in 1995. The firm focuses on leveraged buyout investments of established companies in the U.S. and Europe....
, LLC, announced in December 2007. The Steering business was based in Saginaw, MichiganSaginaw, MichiganSaginaw is a city in the U.S. state of Michigan and the seat of Saginaw County. The city of Saginaw was once a thriving lumber town and manufacturing center. Saginaw and Saginaw County lie in the Flint/Tri-Cities region of Michigan...
, and was formerly known as the Saginaw Steering Division of General Motors. - The sale of the Interiors and Closures business was announced in October, 2007, to The Renco Group. This includes facilities in: Gadsden, AlabamaGadsden, AlabamaThe city of Gadsden is the county seat of Etowah County in the U.S. state of Alabama, and it is located about 65 miles northeast of Birmingham, Alabama. It is the primary city of the Gadsden Metropolitan Statistical Area, which has a population of 103,459. Gadsden is closely associated with the...
, Cottondale, AlabamaCottondale, AlabamaCottondale is an unincorporated community in Tuscaloosa County, Alabama, now encompassed in the eastern suburbs of Tuscaloosa. The ZIP Code is 35453...
, North Kansas City, MissouriNorth Kansas City, MissouriNorth Kansas City is a city in Clay County, Missouri, United States and is an independent municipality that is a part of the Kansas City metropolitan area. The population was 4,714 as of the 2000 census but a large business/industrial base swells the daytime population by thousands more...
, Orion, Michigan, Adrian, MichiganAdrian, MichiganAs of the 2010 census Adrian had a population of 21,133. The racial and ethnic makeup of the population was 84.1% white, 4.4% black or African American, 0.6% Native American, 0.9% Asian, 5.9% from some other race and 4.0% from two or more races...
, Woerth, FranceFranceThe French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
, MatamorosMatamoros, TamaulipasMatamoros, officially known as Heroica Matamoros, is a city in the northeastern part of Tamaulipas, in the country of Mexico. It is located on the southern bank of the Rio Grande, directly across the border from Brownsville, Texas, in the United States. Matamoros is the second largest and second...
, MexicoMexicoThe United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
, the SDADS Joint Venture in ShanghaiShanghaiShanghai is the largest city by population in China and the largest city proper in the world. It is one of the four province-level municipalities in the People's Republic of China, with a total population of over 23 million as of 2010...
, ChinaChinaChinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
and the KDS Joint Venture in DaeguDaeguDaegu , also known as Taegu, and officially the Daegu Metropolitan City, is a city in South Korea, the fourth largest after Seoul, Busan, and Incheon, and the third largest metropolitan area in the country with over 2.5 million residents. The city is the capital and principal city of the...
, South KoreaSouth KoreaThe Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
. - The sale of certain North American Brake Component Machining and Assembly Assets to TRW Automotive Holdings, which includes sites in Saginaw, MichiganSaginaw, MichiganSaginaw is a city in the U.S. state of Michigan and the seat of Saginaw County. The city of Saginaw was once a thriving lumber town and manufacturing center. Saginaw and Saginaw County lie in the Flint/Tri-Cities region of Michigan...
, Springhill, Tennessee, and OshawaOshawaOshawa is a city in Ontario, Canada, on the Lake Ontario shoreline. It lies in Southern Ontario approximately 60 kilometres east of downtown Toronto. It is commonly viewed as the eastern anchor of both the Greater Toronto Area and the Golden Horseshoe. It is now commonly referred to as the most...
, CanadaCanadaCanada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
, announced in September 2007. - The company will continue with its stated plans to sell or wind-down additional non-core product lines and manufacturing sites through 2008.
- The sale of various components and steering operations to the new General Motors Company was announced on August 3, 2009. Delphi Thermal Systems, Powertrain, Powertrain Systems Grand Rapids, and Electronics and Safety became part of GM Components HoldingsGM Components HoldingsGM Components Holdings is an automotive components producer and distributor based in the United States. It is a subsidiary of General Motors. GMCH was created in 2009 as a result of the bankruptcy filings of both Delphi Corporation and General Motors....
LLC, a subsidiary of GM. Delphi Steering, two regional engineering centers, and 15 manufacturing locations in Mexico, Brazil, Europe, India, China, and Australia became part of GM Global Steering Holdings LLC, also a subsidiary of GM . - Sale of global suspension and brakes business ("Global Ride Dynamics") to BeijingWest announced March 31, 2009. BWI Group commenced November 1, 2009.
On November 4, 2009 Delphi named a new board. John A. Krol is the chairman of the new board.
Rodney O'Neal is the President and chief executive officer
Chief executive officer
A chief executive officer , managing director , Executive Director for non-profit organizations, or chief executive is the highest-ranking corporate officer or administrator in charge of total management of an organization...
of the company (since January 1, 2007), replacing Robert S. "Steve" Miller.
The investment bank, Rothschild, Inc.
N M Rothschild & Sons
N M Rothschild & Sons is a private investment banking company, belonging to the Rothschild family...
, is currently advising Delphi in its Chapter 11 restructuring
Environmental record
Researchers at the University of Massachusetts AmherstUniversity of Massachusetts Amherst
The University of Massachusetts Amherst is a public research and land-grant university in Amherst, Massachusetts, United States and the flagship of the University of Massachusetts system...
identified Delphi corp. as the 21st-largest corporate producer of air pollution
Air pollution
Air pollution is the introduction of chemicals, particulate matter, or biological materials that cause harm or discomfort to humans or other living organisms, or cause damage to the natural environment or built environment, into the atmosphere....
in the United States in 2002. According to the study, the manufacturer's most toxic emissions include asbestos
Asbestos
Asbestos is a set of six naturally occurring silicate minerals used commercially for their desirable physical properties. They all have in common their eponymous, asbestiform habit: long, thin fibrous crystals...
(542 lb/yr), chromium
Chromium
Chromium is a chemical element which has the symbol Cr and atomic number 24. It is the first element in Group 6. It is a steely-gray, lustrous, hard metal that takes a high polish and has a high melting point. It is also odorless, tasteless, and malleable...
compounds (1,082 lb/yr), lead
Lead
Lead is a main-group element in the carbon group with the symbol Pb and atomic number 82. Lead is a soft, malleable poor metal. It is also counted as one of the heavy metals. Metallic lead has a bluish-white color after being freshly cut, but it soon tarnishes to a dull grayish color when exposed...
compounds (8,466 lb/yr), and sulfuric acid
Sulfuric acid
Sulfuric acid is a strong mineral acid with the molecular formula . Its historical name is oil of vitriol. Pure sulfuric acid is a highly corrosive, colorless, viscous liquid. The salts of sulfuric acid are called sulfates...
(17,600 lbs/year), while the most massive emissions are glycol ethers
Glycol Ethers
Glycol ethers are a group of solvents based on alkyl ethers of ethylene glycol commonly used in paints. These solvents typically have higher boiling point, together with the favorable solvent properties of lower molecular weight of ethers and alcohols. The word "Cellosolve" was registered in 1924...
(111,520 lbs/year) and hydrochloric acid
Hydrochloric acid
Hydrochloric acid is a solution of hydrogen chloride in water, that is a highly corrosive, strong mineral acid with many industrial uses. It is found naturally in gastric acid....
(80,000 lb/yr).
Corporate issues
In February 2007 the multinational Delphi Automotive Systems Holding Inc. announced the closure of its plant in Puerto RealPuerto Real
Puerto Real is a seaport in southern Spain, in the province of Cádiz and the autonomous region of Andalusia. , it had a population 40,667....
, Cádiz
Cádiz (province)
Cádiz is a province of southern Spain, in the southwestern part of the autonomous community of Andalusia, the southernmost part of continental Western Europe....
, Spain
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
, with a loss of 1600 direct jobs and more than 2500 indirect jobs. despite having agreed to continue its manufacturing operations until 2010 and receiving more than EUR 25 million from various public administrations in order to guarantee its workers' jobs.
The Andalusia
Andalusia
Andalusia is the most populous and the second largest in area of the autonomous communities of Spain. The Andalusian autonomous community is officially recognised as a nationality of Spain. The territory is divided into eight provinces: Huelva, Seville, Cádiz, Córdoba, Málaga, Jaén, Granada and...
n autonomous government
Autonomous communities of Spain
An autonomous community In other languages of Spain:*Catalan/Valencian .*Galician .*Basque . The second article of the constitution recognizes the rights of "nationalities and regions" to self-government and declares the "indissoluble unity of the Spanish nation".Political power in Spain is...
announced it would begin legal action against the company for breach of local labor laws.
On October 8, 2005 Delphi filed for bankruptcy. Slowly, cutting jobs and shutting down many plants around the Dayton area and nationally (Roberson). The increased competition between the U.S. and other countries in the automobile industry has been a factor in Delphi’s bankruptcy (Wehrman D1). Due to the economic slump, all but five of the plants in the Dayton area have closed.
In May 2008, Delphi filed a lawsuit against investors. The lawsuit seeks to impose payment by investors in the amount of $2.55 billion in securities to aid Delphi as it seeks to come out of bankruptcy
Bankruptcy
Bankruptcy is a legal status of an insolvent person or an organisation, that is, one that cannot repay the debts owed to creditors. In most jurisdictions bankruptcy is imposed by a court order, often initiated by the debtor....
. U.S. Bankruptcy Judge Robert Drain in New York
New York
New York is a state in the Northeastern region of the United States. It is the nation's third most populous state. New York is bordered by New Jersey and Pennsylvania to the south, and by Connecticut, Massachusetts and Vermont to the east...
ruled to allow Delphi to seek payments through a contract against Appaloosa Management LP
Appaloosa Management
Appaloosa Management is an American hedge fund founded in 1993 by David Tepper and Jack Walton specializing in distressed debt. Appaloosa Management invests in public equity and fixed income markets around the world.-History:...
as well as denying investors' request for a cap of $250 million for damages.
Manufacturer products
Delphi designs, engineers and manufactures a wide variety of components, integrated systems and modules on a worldwide basis, and is the largest and most diversified supplier of automotive parts. In January 2000 Delphi acquired the diesel systems business of Lucas TRW, making Delphi the world's second largest manufacturer of Diesel Fuel Injection equipment. Delphi Diesel owns the brands of CAV/Simms/RotoDiesel and Condiesel, the division also runs 10 subsidiarySubsidiary
A subsidiary company, subsidiary, or daughter company is a company that is completely or partly owned and wholly controlled by another company that owns more than half of the subsidiary's stock. The subsidiary can be a company, corporation, or limited liability company. In some cases it is a...
distribution companies in Brazil
Brazil
Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...
, China
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
, France
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
, Germany
Germany
Germany , officially the Federal Republic of Germany , is a federal parliamentary republic in Europe. The country consists of 16 states while the capital and largest city is Berlin. Germany covers an area of 357,021 km2 and has a largely temperate seasonal climate...
, Italy
Italy
Italy , officially the Italian Republic languages]] under the European Charter for Regional or Minority Languages. In each of these, Italy's official name is as follows:;;;;;;;;), is a unitary parliamentary republic in South-Central Europe. To the north it borders France, Switzerland, Austria and...
, Spain
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
, Mexico
Mexico
The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
, Turkey
Turkey
Turkey , known officially as the Republic of Turkey , is a Eurasian country located in Western Asia and in East Thrace in Southeastern Europe...
, UK
United Kingdom
The United Kingdom of Great Britain and Northern IrelandIn the United Kingdom and Dependencies, other languages have been officially recognised as legitimate autochthonous languages under the European Charter for Regional or Minority Languages...
and USA.
Joint ventures
- EnerDel - started as a joint venture of Ener1 and Delphi. In August 2008, Ener1 bought exclusive ownership of EnerDel.
- Condumex - (A Grupo CarsoGrupo CarsoGrupo Carso is a global conglomerate company owned by the Mexican tycoon Carlos Slim. It was formed in 1990 after the merger of Corporación Industrial Carso and Grupo Inbursa...
division).
External links
- Delphi website
- SEC Litigation Release
- Slate article on bankruptcy
- DPH Holdings Corporation, the website for the old Delphi Corporation which now concerns its bankruptcy case.
- Delphi Monsoon Premium Audio