Delphi Signs Memorandum of Understanding With Steelworkers and General Motors

TROY, Mich. - Delphi Corp. (PINKSHEETS: DPHIQ) has signed a Memorandum of Understanding with the United Steelworkers and General Motors representing certain U.S. hourly employees at the company’s Dayton (Home Avenue) and Vandalia, Ohio operations. The tentative agreements advance Delphi’s transformation initiatives and are subject to union ratification and approval by the U.S. Bankruptcy Court.

“Although this series of negotiations has been lengthy and complex, we are pleased to have now attained consensual labor agreements with all of our U.S. unions and General Motors on issues impacting our operations and transformation initiatives,” said John Sheehan, chief restructuring officer. “We remain committed to working with our labor unions, GM and all of our other Chapter 11 stakeholders to successfully emerge later this year.”
Delphi will not comment on the details of the tentative agreement, pending ratification by the respective unions.

For more information about Delphi, visit www.delphi.com.