Chennai, Nov 10 (ANI/Business Wire India): Delphi Corporation (PINKSHEETS: DPHIQ), today announced the start of construction of a new electronics manufacturing facility in Chennai and commemorated the event by unveiling the foundation stone at a traditional ceremony, with the participation of senior Tamil Nadu government officials.
The foundation stone for Delphi's new Chennai facility was unveiled today by Jeff Owens, President, Delphi Electronics and Safety and President, Delphi Asia Pacific, and Ashok B. Ramaswamy, President and Managing Director, Delphi India.
Senior government officials including M.F. Farooqui, Principal Secretary to the Industries Department in Tamil Nadu and M. Velmurugan, Director - Guidance Bureau, Industries Department, Government of Tamil Nadu were present on the occasion, as were senior officials from SIPCOT (State Industries Promotion Corporation of Tamil Nadu) and Tamil Nadu Investment Board.
Delphi will be investing close to Rs.250 crores in the new Chennai plant, which is planned to be built in three phases and is expected to be operational toward the end of 2009.
This is an important investment for Delphi that expands its product portfolio and manufacturing footprint to more effectively meet the needs of the growing automotive market in India.
Speaking at the ceremony, Owens said, "The Indian auto sector is an exciting market and has experienced significant growth in the last few years. In the future Delphi is expecting continued growth. As one example the Indian small car segment volume is expected to triple in the next five years and continue strong growth after that. India is a key market for Delphi and with new technologies becoming a reality every day, Delphi believes that providing a range of safety and electronics products will be the way forward in the Indian automobile industry."
Ashok B. Ramaswamy, President and Managing Director, Delphi India, said, "Delphi believes in being close to its customers. Chennai is a hub for both the auto and the electronics industries and several major automotive OEMs are based here. Delphi is already bringing the entire value stream to its customers in India, with local capabilities in-sales, advanced development, product development including project management, hardware and software design, validation, manufacturing and supply chain management. Our new plant in Chennai extends the Electronics and Safety manufacturing footprint to India and increases the Delphi local product portfolio to meet market needs."
From this 10-acre site, Delphi can manufacture products in the areas of controls and security, safety, and entertainment and communications. In phase one, the plant will produce immobilizers, body computers, instrument clusters and driver information systems, followed by safety and entertainment products.