Aptiv PLC (formerly known as Delphi Automotive PLC) is a global automotive parts technology company focused on future mobility headquartered in Gillingham, Kent, UK.
With offices worldwide, the company operates manufacturing sites, 14 technical centers, and customer centers across 45 countries.
On 5 December 2017, the company changed its name to Aptiv Plc, after spinning off "new" Delphi (Delphi Technologies PLC) which kept trading under the old symbol DLPH, while Aptiv PLC changed its ticker symbol to APTV.
Video Aptiv
History
- 1994: General Motors formed Automotive Components Group (ACG)
- 1995: ACG renamed Delphi Automotive Systems
- 1997: GM and Hughes Electronics Corporation spun off from Hughes Defense electronics business, and transferred Delco Electronics from Hughes to Delphi
- 1999: Delphi Automotive Systems became a fully independent publicly held corporation
- 2000: Delphi purchased UK based Lucas Diesel Systems from TRW Inc, who had purchased its parent LucasVarity plc in 1999
- 2001: 11,500 jobs cut worldwide (Bischoff 1A)
- 2002: Delphi Automotive Systems renamed Delphi Corporation reflecting its diversified business direction
- 2004: Delphi subpoenaed by the Securities and Exchange Commission (SEC) for irregular accounting practices and financial transactions
- 2005: Delphi disclosed irregular accounting practices. A number of executives, including CFO Alan Dawes, resigned. Delphi Chairman J.T. Battenberg retired. Delphi filed for Chapter 11 bankruptcy protection to reorganize its struggling U.S. operations. As a result of this action, the Securities and Exchange Commission granted an application by the New York Stock Exchange to delist Delphi's common stock and bonds. The stock traded over the counter on the Pink Sheets electronic exchange. Twenty-four U.S plants closed.
- 2006: Delphi announced it would sell off or close 21 of its 29 plants in the United States. The eight plants it intended to keep were in Brookhaven, Mississippi; Clinton, Mississippi; Grand Rapids, Michigan; Kokomo, Indiana; Lockport, New York; Rochester, New York; Warren, Ohio; and Vandalia, Ohio. Delphi proposed that these remaining plants operate with wage and workforce reductions.
- February 2007: Plants in Puerto Real, Cádiz, Spain, closed, with a loss of 1,600 direct jobs, and more than 2,500 indirect jobs. despite having agreed to continue its manufacturing operations until 2010 and receiving more than EUR25 million from various public administrations in order to guarantee its workers' jobs. The Regional Government of Andalusia announced it would begin legal action against the company for breach of local labor laws.
- May 2008: Delphi sued its investors for US$ 2.55 billion in securities to aid Delphi as it sought to come out of bankruptcy. U.S. Bankruptcy Judge Robert Drain in New York ruled to allow Delphi to seek payments through a contract against Appaloosa Management LP as well as denying investors' request for a cap of $250 million for damages.
- 27 April 2009: CoolIT Systems announced the acquisition of the assets of Delphi Thermal Liquid Cooling including intellectual property, machinery, and equipment.
- 6 October 2009: Delphi's core assets purchased by a group of private investors to create a new Delphi Corporation. Some of its non-core steering operations sold to General Motors Company, the successor to the bankrupt Motors Liquidation Company that used to be the old General Motors Corporation. The stock was cancelled. The old Delphi Corporation was renamed DPH Holdings Corporation. The new Delphi incorporated in the United Kingdom.
- 1 July 2015: Delphi sold their Thermal Business unit to Mahle-Behr GmbH. Together, the Mahle-Behr and Delphi Thermal merger represented the second largest supplier of automotive thermal management systems including interior HVAC components, under-hood powertrain cooling and compressors.
- 11 December 2015 Delphi announced improvements to self driving technology under development.
- On June 3, 2016, Delphi partnered with Carbon to allow use of Carbon's Continuous Liquid Interface Production technology and printers.
- 3 May 2017, Delphi planned to spin off its powertrain business and focus on electric vehicles and driverless technology.
- 5 December 2017, Delphi spins off "new" Delphi and changes name to Aptiv PLC.
Chapter 11 reorganization
During the Chapter 11 cases, Delphi made substantial progress in identifying and implementing the sale (or receiving Bankruptcy Court approval to sell) or wind down of those facilities and business lines that do not support the company's future strategic framework, including:
- The sale of the brake hose manufacturing business in Dayton, Ohio to Harco Manufacturing Group, announced in January 2007.
- The settlement of a social plan in the "Concurso," or Spanish insolvency proceeding, of Delphi Automotive Systems Espana S.L.
- The sale of the Mexican brake components business, including a manufacturing plant in Saltillo, Coahuila, Mexico, to Robert Bosch LLC and its affiliate Frenados Mexicanos, S.A. de C.V., announced in June 2007.
- The sale of substantially all of the assets of MobileAria, Inc. to Wireless Matrix USA, Inc.
- The sale of the U.S. Battery operations in New Brunswick, New Jersey to Johnson Controls, Inc. in 2006.
- The wind-down of a Delphi Medical Texas facility in Houston, Texas
- The consolidation of fuel injector production in Rochester, New York during 2006-2007, which allowed the Debtors to wind down a manufacturing facility in Coopersville, Michigan
- The sale of the catalyst business to Umicore, completed in October, 2007.
- The sale of the Wheel bearings business based in Sandusky, Ohio to Kyklos, Inc., which is a wholly owned subsidiary of Hephaestus Holdings, Inc., in February 2008.
- The sale of the Interiors and Closures business was announced in October, 2007, to Renco Group. This includes facilities in: Gadsden, Alabama, Cottondale, Alabama, North Kansas City, Missouri, Orion, Michigan, Adrian, Michigan, Woerth, France, Matamoros, Mexico, the SDADS Joint Venture in Shanghai, China and the KDS Joint Venture in Daegu, South Korea.
- The sale of certain North American Brake Component Machining and Assembly Assets to TRW Automotive Holdings, which includes sites in Saginaw, Michigan, Spring Hill, Tennessee, and Oshawa, Canada, announced in September 2007.
- The sale of various components and steering operations to the new General Motors Company was announced on 3 August 2009. Delphi Thermal Systems, Powertrain, Powertrain Systems Grand Rapids, and Electronics and Safety became part of GM Components Holdings LLC, a subsidiary of GM. Delphi Steering, two regional engineering centers, and 15 manufacturing locations in Mexico, Brazil, Europe, India, China, and Australia became part of GM Global Steering Holdings LLC, also a subsidiary of GM.
- Sale of global suspension and brakes business ("Global Ride Dynamics") to BeijingWest announced 31 March 2009. BWI Group commenced 1 November 2009.
Maps Aptiv
Operations
As of December 2017, Delphi has two diversified business segments:
- "Electrical/Electronic Architecture" provides complete vehicle electrical systems, integrating wiring and cable assemblies, electrical centers and connection systems.
- "Electronics & Safety" provides advanced software and sensing systems, computing platforms, advanced safety systems and automated driving, user experience and infotainment, as well as other vehicular electronic controls.
Controversies
On 4 March 2005, Delphi said it had fired its CFO and would restate earnings between 1999, when Delphi spun off from General Motors Corp (GM), and 2004 for improper reporting of rebates, credits, or other payments from suppliers. In June, 2006, Delphi said in a filing that it would restate its 2005 report, which would increase Delphi's reported 2004 net loss by $65 million. In 2013, Delphi became involved in an ongoing lawsuit against GM, because it manufactures ignition switches for the Chevrolet Cobalt, whose original design is alleged to be defective.
Joint ventures
- EnerDel - started as a joint venture of Ener1 and Delphi. In August 2008, Ener1 bought exclusive ownership of EnerDel.
- Condumex - A Grupo Carso division
Environmental record
Researchers at the University of Massachusetts Amherst identified Delphi corp. as the 21st-largest corporate producer of air pollution in the United States in 2002. According to the study, the manufacturer's most toxic emissions included asbestos (542 lb/yr), chromium compounds (1,082 lb/yr), lead compounds (8,466 lb/yr), and sulfuric acid (17,600 lbs/year), while the most massive emissions were glycol ethers (111,520 lbs/year) and hydrochloric acid (80,000 lb/yr).
References
External links
- Aptiv website
- SEC Litigation Release
- Slate article on bankruptcy
- DPH Holdings Corporation, the website for the old Delphi Corporation which now concerns its bankruptcy case.
Source of the article : Wikipedia
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