Delphi Automotive Systems
Written by Bill Bowman
Delphi is an automotive parts company headquartered in Troy, Michigan. Delphi is one of the world’s largest automotive parts manufacturers and has approximately 171,400 employees (50,000 in the United States). With offices worldwide, the company operates 167 wholly owned manufacturing sites, 41 joint ventures, 53 customer centers and sales offices, and 33 technical centers in 38 countries.
History
- 1988: GM creates ACG Worldwide to bring all of its components divisions under one unit.
- 1991: GM takes additional steps to restructure its automotive parts subsidiaries -- Saginaw Steering, Harrison Thermal, Packard Electric, AC Delco and others -- into a separate business group. J.T. Battenberg III, a GM manufacturing veteran, is named to head the group.
- 1994: After consolidating and shedding dozens of supply operations, GM forms Automotive Components Group.
- 1995: ACG is renamed Delphi Automotive Systems.
- 1997: GM and Hughes Electronics Corporation spin-off of Hughes Defense electronics business and transfer Delco Electronics from Hughes to Delphi
- 1999: Delphi Automotive Systems becomes a publicly held corporation on Feb. 25 -- becoming America's 36th largest business overnight. On May 28, Delphi becomes independent of GM. Delphi begins paying cash dividend of 7 cents a share a quarter.
- 2002: Delphi Automotive Systems is renamed Delphi Corp. to reflect growing nonautomotive business, including medical equipment.
- 2004: Delphi is subpoenaed by the Securities & Exchange Commission in July for irregular accounting practices and financial transactions.
- 2005: Delphi discloses irregular accounting practices having overstated cash flow in previous years. Delphi files to reorganize its struggling U.S. operations under Chapter 11 bankruptcy protection.
- 2006: Delphi maintains eight plants in Brookhaven and Clinton, Mississippi, Grand Rapids, Michigan, Kokomo, Indiana, Lockport and Rochester, New York, and Warren and Vandalia, Ohio. The remaining 21 plants are closed or sold.
- 2007; Delphi Corporation continues to progress and pull its self back up to where they used to be. They have continued to be a multinational corporation, and are working to meet all the requirements given to them by the government.
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