Delphi books $3.3B in new steering, halfshaft business

Delphi Corporation has already booked $3.3 billion in new steering and halfshaft business to date in 2006, and expects additional new business awards prior to year-end, company officials said December 6.

Most of the new business awards are approximately five years in duration. Further details remain confidential at the customers' request.

Sixteen global customers are included among the new business awards, with no single customer representing more than 50 percent of the total business. More than half of the new business is for vehicles produced in Europe, Asia and South America.

The products sold include electric and hydraulic power steering systems, steering columns, gears, hoses and halfshafts.

"We're showing remarkable strength during a turbulent time for the entire industry," said Bob Remenar, president, Delphi Steering division. "This sales performance shows that we have strong technologies that excite a diversified and global customer base. We have a team that is committed to bringing value to our customers. Our team has built strong sales momentum throughout the year. We expect that momentum to continue for the remainder of the year and into 2007."

Beyond the short-term improvement, the news has historical significance: In the 100 years that Delphi has been producing steering components and systems, 2006 will represent the second-strongest bookings year ever. As the division continues to book sales for the remainder of the year, Remenar said he expects that 2006 will reflect more than a 50-percent gain compared with 2005.

Remenar further said that more than 30 percent of the new business in 2006 is conquest business. "It's really simple," Remenar said. "We expect that as more customers get to know us - our people, our products, our quality, and our global footprint, with our engineering and manufacturing capabilities - they will want to do more business with Delphi Steering."

Delphi Steering now supports 64 customers worldwide.

The division has more than 9,200 employees at 22 manufacturing plants, 11 customer support centers, and five regional engineering centers worldwide.

Delphi Steering has 100 years of experience, beginning with steering gears in 1906, and has delivered more than 300 million steering pumps, 200 million steering gears, and 6 million electric power steering systems to its diversified customer base. The division has a history of industry-leading innovations, including the first tilt-wheel steering column and energy- absorbing steering column. Delphi has further enhanced its steering portfolio with the next generation of cost-effective active hydraulic and electric steering products to improve the driving experience. Innovation continues today in the areas of safety, comfort and convenience, and fuel efficiency to meet customers' needs globally.