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Delphi intent to sell Composite Spring Business

23 February 2001

As part of a plan to rationalize facilities and exit non-strategic businesses, Delphi Automotive Systems announced today its intent to sell its Ande, France operations, as well as its global Liteflex composite spring business.

""The Liteflex product line is not strategic to our portfolio and Ande is no longer critical in our global footprint,"" said Mike McCurdy, business line executive for Delphi's ride dynamics business line. ""Fortunately, we have interested parties for both Ande and our global Liteflex business and are proceeding with the intention to sell both."" Delphi's composite spring business manufactures drive axle springs for original equipment manufacturers (OEM) and the aftermarket. ""Delphi continually engages product portfolio reviews for all of its business lines to assure the company's portfolio is in-line with long-term strategic objectives and maximizes shareholder value,"" said Guy C. Hachey, president of Delphi Automotive Systems Energy & Chassis division. ""When a viable product line like composite springs emerges from product portfolio review outside the scope of Delphi's long-term objectives, we look to sell that business."" The proposed Liteflex sale would include all of Delphi's composite spring business assets in Dayton, Ohio, including all tools, inventory, equipment and a dedicated facility in Dayton. Delphi's 15 hourly and 5 salaried employees in Dayton dedicated to the composite spring business line will be transitioned to other assignments within Delphi. No layoffs are anticipated as a result of a sale of the Dayton Liteflex business. The proposed sale would include the facility, as well as all of Delphi's composite spring business assets at the Ande, France operations, including employees, tools, inventory and equipment. ""The Liteflex product line has a solid book of business and should have a viable future with a buyer who will support its growth as part of a long-term strategic goal,"" said Hachey. ""This decision is intended to strengthen our main line automotive products and improve the competitiveness of our core business by allowing us to focus on our long-term strategic direction."" For more information about Delphi Automotive Systems, visit http://www.delphiauto.com






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