Delphi realigns compressor joint ventures to reduce costs, increase global footprint

By Jennifer Lanning Drey

Portland, Ore., March 10 - Delphi Corp. realigned its share holdings in two compressor joint ventures as part of the company's efforts to reduce its compressor business cost structure and strengthen its global footprint, according to a Monday news release.

Delphi purchased the remaining 10% venture shares in Delphi Calsonic Hungary Ltd. from Calsonic Kansei Europe plc and sold its remaining 49% share in its Japan-based venture Calsonic Harrison Co., Ltd. to Calsonic Kansei.

"Delphi has recently expanded its compressor footprint in Mexico and has a planned plant opening in China this year. This expansion, coupled with today's announcement of our Hungary plant, well positions Delphi to serve the needs of the local markets and meet increasing customer demand," Ron Pirtle, president of Delphi Thermal Systems, said in the release.

The Hungary-based venture manufactures compact variable compressors.

Delphi is a Troy, Mich.-based automotive electronics manufacturer that filed for bankruptcy protection on Oct. 8, 2005 in the U.S. Bankruptcy Court for the Southern District of New York. Its Chapter 11 case number is 05-44481.

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