Auto Service World
News   October 8, 2009   by CARS Magazine


Troy, Mich., — Delphi Holdings LLP announced today it had completed the acquisition of
substantially all of Delphi Corporation’s global core businesses as part of the consummation of the
Delphi Corporation Modified Plan of Reorganization.

Rodney O’Neal will remain President and CEO and the current leadership will continue to
manage the company’s global operations.

“We are grateful for the support and loyalty of our customers, who have placed their trust in
Delphi’s ability to provide world-class products and uninterrupted supply, and the support of our
suppliers who have contributed broadly to our efforts,” O’Neal said. “We are also thankful for the
dedicated Delphi employees who remained focused on our customers, and the communities in
which we operate for their unwavering support during the most challenging period in our history.
Additionally, we are grateful for and recognize the sacrifice made by many constituent groups
throughout our restructuring.”

Delphi’s balance sheet will be sufficiently capitalized to invest in technology, and to absorb
planned restructuring and resultant social costs as the company consolidates excess capacity
around the world, O’Neal said. “We expect 2010 gross engineering and R&D spending to be about
11 percent of sales, allowing us to maintain our intense focus on technologies, products and
services that help our customers deliver vehicles that are safer, greener and allow purchasers to
remain connected to their busy lives.”

The company’s product portfolio remains centered on electronics and safety; powertrain;
thermal; electrical and electronic systems; OE service; and the independent aftermarket.
“We are clearly focused on game-changing technologies that meet market demands and
help address societal concerns in an intense global environment. We expect that the industry and
the competitive environment will continue to be demanding, but the restructuring we have already
completed creates a strong platform and we expect to capitalize on that,” O’Neal said. “We are
excited about the potential for our future and for assuring that Delphi remains among the premier
supply companies in the world. We are a more agile, nimble and resilient company and are eager
to begin the next part of our journey with our customers, employees and suppliers.”
Completion of the transaction in Russia and South Africa is subject to pending regulatory

The acquisition was led by Elliott Management and Silver Point Capital in their capacity as
senior creditors of Delphi. Representatives from Elliott and Silver Point jointly stated that, “As
major investors in the new Delphi, we believe this transaction will provide a solid financial
foundation for the company’s growth and success as a world leader in the global automotive
industry. We are extremely pleased to have played a significant role in the creation of the new

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