Delphiâ€™s vice president has announced the companyâ€™s emergence from Chapter 11 as a privately owned entity to the European automotive aftermarket.
Frank OrdoÃ±ez made a personal appearance at the Equip Auto Exhibition in Paris this week where he briefed the trade and journalists on Delphiâ€™s new structure.
Delphi went into Chapter 11 administration in 2005 and it has taken four years to reorganise the company, shedding unprofitable operations and narrowing its focus onto key areas of expertise.
OrdoÃ±ez said that the company is now â€œa more agile, nimble and resilient companyâ€ with a focus on â€œproviding innovative solutions to real world challengesâ€.
It has streamlined its OE product lines from 27 down to 10 and has diversified its client base so that no single customer accounts for more than 15% of Delphi sales.
The company’s product portfolio remains centered on electronics and safety; powertrain; thermal; electrical and electronic systems; OE service; and the independent aftermarket.
Delphi has a â€œbright futureâ€ as a private company, said OrdoÃ±ez.
In 2009 Delphi booked in aftermarket and OEM programmes worth more than US $4bn and has committed to spending 11% of sales on engineering and R&D in 2010.
Look out for your November issue of CAT mag for background and analysis