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
"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
"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
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.
/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/
CO: Delphi Saginaw Steering Systems; NSK; Delphi Automotive Systems
-0- (PRN) Oct/26/95 8:00
EOS (PRN) Oct/26/95 08:00 86
-0- (PRN) Oct/26/95 8:15
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