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DELPHI AND NSK PLAN AXLE VENTURE


TOKYO, Oct. 26 /PRNewswire/ -- Delphi Saginaw Steering Systems and NSK are planning to form a halfshaft engineering and sales joint venture to strengthen both companies in the global marketplace, top company officials announced today. An agreement is currently being negotiated by Delphi and NSK and is expected in the next few weeks with initial operation planned for early 1996. Vice President and Delphi Steering General Manager Donald L. Runkle and NSK President Tetsuo Sekiya revealed plans for the joint venture at the Tokyo Auto Show.

The objective of the venture is to increase the market share of both companies' products in Japan as well as with Japanese OEMs worldwide. Each company is a major supplier of halfshafts (front drive axles) in their respective markets, according to Runkle. "Delphi Steering is No. 2 in the world, and NSK is No. 4. Together we will be in an excellent position to grow our business with the OEMs in Japan and the Asia/Pacific region."

"The relationship with Delphi will help us expand our design capability in constant velocity joints and better serve our important Japanese customers wherever they locate throughout the world," said Sekiya.

"NSK's excellent relationships with Japanese vehicle manufacturers will help improve the acceptability of Delphi's designs in their vehicles, worldwide," Runkle added.

The proposed venture, tentatively called Delphi Saginaw NSK, will serve customers in Japan and the Asia/Pacific region. In addition, it will be a sales and engineering interface between Delphi Saginaw Steering Systems worldwide operations and Japanese transplants around the world. Further, it promotes technical and regional complementary relationships between the two companies and the establishment of a global research and development network, according to the officials. Delphi Steering and NSK have a long history of cooperation going back nearly 30 years. In 1968, NSK was licensed to market and manufacture Saginaw energy absorbing steering columns, and, in 1977, was licensed to produce hydraulic rotary valves designed by Saginaw. Earlier this year, Delphi Steering was licensed to manufacture NSK's UTJII constant velocity joints for sale outside Japan.

NSK Ltd., headquartered in Tokyo, Japan, is one of the world's largest manufacturers of rolling element bearings and automotive components, as well as precision machine parts. It employs over 18,000 people at 10 manufacturing plants and other operations in the USA, Europe, Brazil and Indonesia. It also has joint ventures in Japan, USA, Britain, Korea and Malaysia.

Delphi Saginaw Steering Systems, headquartered in Saginaw, Michigan, USA, designs, markets and produces automotive steering columns, gears, pumps & hydraulic hoses as well as halfshafts for the worldwide market. It employs over 14,000 people in operations in the USA, Europe, India and Malaysia. It also has joint ventures in Argentina, Brazil, Mexico, China, India, and South Korea. Its customers include General Motors, Opel, Chrysler, Toyota, Renault, Fiat, Ford, Daewoo, Kia and Ssangyong.

Delphi Saginaw Steering Systems is part of Delphi Automotive Systems, which is comprised of six operating divisions and three regional marketing units (Europe, Asia/Pacific, and South America). It has over 174,000 employees at 191 locations in 37 countries and operates 17 technical centers in various countries. It also has 36 joint ventures around the world. Each of the six divisions has lead responsibility for a particular automotive systems segment of the market: chassis, interior and lighting, electric, energy and engine management, steering, and thermal.

-0- 10/26/95

/CONTACT: Mary Irby of Delphi Saginaw Steering Systems, 517-757-4010, or fax, 517-757-4022; or Misa Yamashita of Hill & Knowlton, 81-3-3288-3671, or telecopier, 81-3-3288-3677/

(GM)

CO: Delphi Saginaw Steering Systems; NSK; Delphi Automotive Systems ST: Michigan IN: AUT SU: JVN

-0- (PRN) Oct/26/95 8:00 EOS (PRN) Oct/26/95 08:00 86 â -0- (PRN) Oct/26/95 8:15

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