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'Nexteer Automotive' Announced as New Brand Name for Delphi's Global Steering Division Following Completion of Sale

    --  Sale positions steering supplier for a strong future with diverse and
        global customer base
    --  Continued leadership on fuel-saving and emission-reducing Electric Power
        Steering (EPS) technology

    --  Structure and policies implemented for customer confidentiality and
        intellectual property protection while under GM ownership

Effective with today's closing of the sale of Delphi's global steering business to GM Global Steering Holdings LLC, it was announced the new company will go to market under the Nexteer Automotive brand name and will be the only global Tier One automotive supplier exclusively focused on advanced steering and driveline technology.

"We wanted a name with a dynamic look and feel that not only reflects our 100-year heritage of industry-leading innovation, hard work and quality products, but also signals the opportunities we see as a revitalized business with a great future," said Robert J. Remenar, president of the new company and former president of Delphi Steering.

Remenar will continue as president of Nexteer Automotive following the anticipated launch next month.

Already well established with a strong, diverse and global customer base, the new positioning reinforces Nexteer Automotive's transition to a stand-alone and separate entity as a GM subsidiary. Similar to any automotive supplier in the industry that serves multiple OEM customers, the appropriate technology, product, cost and pricing firewalls will continue to be implemented to ensure all Nexteer Automotive's customers are protected and supported while it is under GM ownership.

"We believe a product strategy focused exclusively on Electric Power Steering, Hydraulic Power Steering, driveline and steer-by-wire will give us an edge on innovation as we place all of our resources behind bringing to market new technologies that are valued by our customers," said Remenar.

Nexteer Automotive will begin life as a multi-billion dollar global steering and driveline business solely dedicated to electric and hydraulic steering systems, steering columns and driveline products for original equipment manufacturers. Nexteer Automotive's 6,200 employees will serve more than 60 customers in every major region of the world with 15 manufacturing plants, six engineering and 14 customer service centers strategically located in North and South America, Europe and Asia. The current Delphi Steering headquarters in Saginaw, Mich., remains global headquarters for Nexteer Automotive.

Nexteer Automotive's customers include GM, Fiat, Ford, Toyota, Chrysler, and PSA Peugeot Citroen, as well as automakers in India, China and South America.

Over the course of the last century, Nexteer Automotive's industry-leading engineering and product development capabilities have consistently pioneered new steering technologies that have enhanced safety, fuel efficiency, comfort and convenience. This includes hydraulic assisted steering, tilt wheel steering columns including power tilt, active and energy absorbing columns, front-wheel drive and rear-wheel drive halfshafts, the premium performance TriGlide halfshaft joint, Electric Power Steering, Quadrasteer(TM)( )active vehicle dynamic control, and steer-by-wire.

For more information on Nexteer Automotive, please visit www.nexteer.com.

SOURCE Nexteer Automotive