Delphi Announces Agreement With Beck Aluminum to Market Delphi’s Patented K-Alloy
TROY, Mich. -- Delphi Corp. has announced a strategic licensing agreement with Beck Aluminum to produce and market Delphi’s patented corrosion-resistant K-Alloy™. The agreement is designed to improve the competitiveness of the product through increased availability at attractive prices. The Delphi agreement with Beck Aluminum helps simplify the process to gain access to the patented material.
“We are excited to announce this new relationship with Beck Aluminum,” said Timothy Forbes, Delphi director of commercialization and licensing. “Our new strategic licensing agreement will allow us to significantly increase the adoption of this outstanding alloy by increasing the availability to aluminum die casters.”
Delphi’s K-Alloy is an innovative new aluminum die casting alloy that resists corrosion. It can eliminate expensive processes such as anodizing, chromating, powder coating and painting that are designed to slow corrosion. In addition to cosmetic improvements, K-Alloy provides increased functional durability for aluminum cast components in harsh environments.
Originally developed to withstand extreme salt corrosion and temperatures, vibration and shock experienced in vehicle engine electronics, K-Alloy aluminum is now currently used or being tested on products as diverse as sporting goods, outdoor lighting, furniture, water systems, mail boxes, radios, communications enclosures and vehicle roof racks. K-Alloy has been tested to withstand 3,000 hours of salt spray testing with no metal loss or surface damage. Other aluminum alloys would require additional processes and/or coatings to withstand this harsh environment.
“Beck is ISO certified and has support resources serving an extensive customer base,” said Bryan Beck, executive vice president of Beck Aluminum. “K-Alloy’s unique qualities allow Beck to offer customers a product that will provide them with rugged durability and more process flexibility.” Based in Cleveland, Ohio, Beck Aluminum is the largest distributor of primary aluminum alloys in North America. The company currently supplies aluminum alloys for more than 700 customer locations in the U.S., Canada and Mexico. In addition, Beck Aluminum International was recently formed by the company to handle their growing import/export shipments. Every month Beck Aluminum sells more than 30 million pounds of aluminum products and recycles approximately 15 million pounds of scrap. “We’re pleased that we’re already producing over 100,000 pounds of K-Alloy per month at our smelter in Lebanon, PA,” Beck said. “We have already had inquiries for new programs and applications that will each require several million pounds of K-Alloy per year.”
Delphi has appointed MDW Technologies LLC (http://www.mdwtech.com/kalloy) as its technical and licensing representative to broaden its customer base. For more information about K-Alloy and MDW capabilities, contact David G. Isaacs, CEO MDW Technologies, LLC at firstname.lastname@example.org.
For more information on Delphi, please visit www.delphi.com.
FORWARD LOOKING STATEMENTS
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 its advance agreement with GM, to obtain an extension of term or other amendments as necessary to maintain access to such facility and advance agreement; 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 consummate its amended plan of reorganization which was confirmed by the Court on January 25, 2008 or any other subsequently confirmed plan of reorganization; 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 Item 1. Business “Plan of Reorganization and Transformation Plan” of the Annual Report on Form 10-K for the year ended December 31, 2007 filed with the SEC) 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 Annual Report on Form 10-K for the year ended December 31, 2007 filed with the SEC, 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.
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