Delphi Grows Supply to Military, Aerospace Market with New Sikorsky Helicopter Business
Sikorsky Aircraft Corporation Chooses Delphi Connection Systems to Supply Relay Panels on Two-Year Canadian Maritime Helicopter Project
TROY, Mich. — Delphi Connection Systems has won a contract from Sikorsky Aircraft Corporation to supply electronic relay panels on its Canadian Maritime Helicopter program. Production on the program started last month.
Six relay panels are used on each aircraft to provide switching control for all systems as well as to provide access to reserve and backup power.
Delphi Connection Systems is an established supplier to Sikorsky, and also manufactures the stabilator amplifier for the company’s BLACK HAWK helicopter program at its Tijuana, Mexico facility. The plant, which fosters the principles of lean manufacturing, has recently achieved AS9100 certification. AS9100 is the quality management system (QMS) standard specific to the aerospace industry.
Sikorsky Aircraft Corp., based in Stratford, Conn., is a world leader in helicopter design, manufacturing, and service. It is a division of United Technologies Corp (NYSE:UTX), provider of a broad range of high-technology products and support services to the aerospace and building systems industries.
“Although Delphi is often categorized as an automotive company, Delphi Connection Systems has actually been supplying the military and aerospace market for over thirty years. Delphi’s strong heritage has made us a preferred electrical/electronic partner across the transportation industry â whether it be by land, by sea or by air,” said Richard Franzi, general manager, Delphi Connection Systems.
“Our customers in the defense market require a rugged product that can perform in harsh environments,” Franzi said. “We are proud to have Sikorsky continue to put their trust in our world-class manufacturing practices and our knowledge of electrical/electronic architecture.” Delphi Electrical/Electronic Architecture delivers power and signal distribution networks for today’s increasingly complex transportation applications. Delphi engineers act as master architects by using proprietary design tools and software to create a virtual model of E/E architecture - down to the last connector, electrical center, electronic module and wiring harness. In doing so, they evaluate the impact of various trade-offs to deliver a fully optimized E/E architecture system backed by Delphi technical centers and manufacturing facilities in 31 countries around the globe.
FORWARD LOOKING STATEMENT
This press release, as well as other statements made by Delphi may contain forward-looking statements that reflect, when made, the Company’s current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company’s operations and business environment which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. In some cases, you can identify these statements by forward-looking words such as “may,” “might,” “will,” “should,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue,” the negative of these terms and other comparable terminology. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the ability of the Company to operate pursuant to the terms of the debtor-in-possession financing facility and to obtain an extension of term or other amendments as necessary to maintain access to such facility; the terms of any reorganization plan ultimately confirmed; the Company’s ability to obtain Court approval with respect to motions in the chapter 11 cases prosecuted by it from time to time; the ability of the Company to prosecute, confirm and consummate one or more plans of reorganization with respect to the chapter 11 cases; the Company’s ability to satisfy the terms and conditions of the EPCA; risks associated with third parties seeking and obtaining Court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, for the appointment of a chapter 11 trustee or to convert the cases to chapter 7 cases; the ability of the Company to obtain and maintain normal terms with vendors and service providers; the Company’s ability to maintain contracts that are critical to its operations; the potential adverse impact of the chapter 11 cases on the Company’s liquidity or results of operations; the ability of the Company to fund and execute its business plan (including the transformation plan described in its filings with the SEC and the Bankruptcy Court. and to do so in a timely manner; the ability of the Company to attract, motivate and/or retain key executives and associates; the ability of the Company to avoid or continue to operate during a strike, or partial work stoppage or slow down by any of its unionized employees or those of its principal customers and the ability of the Company to attract and retain customers. Additional factors that could affect future results are identified in the Company’s Annual Report on Form 10-K for the year ended December 31, 2006, including the risk factors in Part I. Item 1A. Risk Factors, contained therein and the Company’s quarterly periodic reports for the subsequent periods, including the risk factors in Part II. Item 1A. Risk Factors, contained therein, filed with the SEC. Delphi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise. Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Company’s various prepetition liabilities, common stock and/or other equity securities. Additionally, no assurance can be given as to what values, if any, will be ascribed in the bankruptcy cases to each of these constituencies. A plan of reorganization could result in holders of Delphi’s common stock receiving no distribution on account of their interest and cancellation of their interests. In addition, under certain conditions specified in the Bankruptcy Code, a plan of reorganization may be confirmed notwithstanding its rejection by an impaired class of creditors or equity holders and notwithstanding the fact that equity holders do not receive or retain property on account of their equity interests under the plan. In light of the foregoing, the Company considers the value of the common stock to be highly speculative and cautions equity holders that the stock may ultimately be determined to have little or no value. Accordingly, the Company urges that appropriate caution be exercised with respect to existing and future investments in Delphi’s common stock or other equity interests or any claims relating to prepetition liabilities.
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