DELPHI AND NSK ANNOUNCE SALES AND ENGINEERING VENTURE

TOKYO, March 18 /PRNewswire/ -- Today, Delphi Saginaw Steering Systems and NSK officials signed a pact establishing Delphi Saginaw * NSK a joint venture to strengthen customer support for the sale and engineering of continuously variable joint (CVJ) and halfshaft assemblies in the Asia-Pacific market. General Motors Vice President and Delphi Steering General Manager F.A. (Fritz) Henderson and NSK President Tetsuo Sekiya announced the formation of the joint venture following a signing meeting in Tokyo.  The halfshaft assembly is comprised of two continuously variable joints, a driveshaft and semi-flexible polymer or rubber retainer which holds a lubricant for the joint's rotating elements.  The halfshaft assembly transfers power from the transaxle to the wheels to propel the vehicle.  The venture will greatly expand the breadth of CVJ products offered to Japanese OEMs worldwide.  Business operation is expected by July 1, 1997. "Delphi Saginaw Steering and NSK rank number two and four in sales of CVJ and halfshaft products worldwide," said Henderson.  "Together we are now able to offer our customers the broadest range of CVJ products in the market, combined with the engineering, manufacturing and sales expertise of both companies."  "The relationship with Delphi will help us expand our sales and product engineering capability in CVJ products," said Sekiya.  "Through this agreement we have the ability to serve our customers wherever they locate throughout the world."  Delphi Saginaw * NSK Co. Ltd., will be a sales and engineering interface between Delphi Saginaw Steering Systems worldwide operations and Japanese automobile manufacturers around the world.  Further, it will promote technical and regional complementary relationships between the two companies and will utilize the companies' global research, product development and manufacturing 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 Delphi Saginaw Steering designed Energy Absorbing Steering Columns.  In 1977, NSK was licensed to produce hydraulic rotary valves designed by Saginaw.  In 1994, 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 l9,000 people at lO manufacturing plants located in Japan and other operations in the USA, Europe, Brazil and Indonesia.  It also has joint ventures in Japan, USA, Britain, Korea, Malaysia, Thailand and China, as well as sales offices throughout the world.  Delphi Saginaw Steering Systems, headquartered in Saginaw, Michigan, USA, designs, markets and produces automotive steering columns, gears, pumps & hydraulic hoses as well as half shafts for the worldwide market.  It employs over 14,000 people in operations in North America, Europe and India.  It also has joint ventures in Argentina, Brazil, China and South Korea and sales offices throughout Europe and Asia Pacific regions.    SOURCE  Delphi Saginaw Steering Systems         
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