Company:Delphi Technologies

From HandWiki
Delphi Technologies
TypePublic limited company
Websitewww.delphi.com

On 5 December 2017 Delphi Automotive renamed itself Aptiv and spun off its powertrain and aftermarket related businesses to a stand-alone company Delphi Technologies PLC. The $4.5 billion company began trading under the former Delphi Automotive symbol DLPH on the New York Stock Exchange.[1][2][3] It was added to the S&P MidCap 400 Index on 6 December 2017.[4]

The company provides combustion systems, electrification products and software and controls, and operates in the passenger car and commercial vehicle markets, and in vehicle repair through a global aftermarket network.[1] The company has 20,000 employees including 5,000 engineers. It is headquartered in London, U.K. and operates technical centers, manufacturing sites and customer support services in 24 countries.[1]

Upon the formation of Delphi Technologies, Liam Butterworth, head of the former Delphi Automotive's global powertrain business since 2014, was named CEO.[5] In October 2018, he left the company, and director and former Tenneco COO Hari Nair was named interim CEO.[6] On 7 January 2019 Richard Dauch was named new CEO.[7]

On 28 January 2020, BorgWarner Inc. agreed to buy Delphi Technologies in an all-stock transaction that values Delphi at about $3.3 billion.[8]

References

  1. ↑ 1.0 1.1 1.2 "Delphi Technologies completes spinoff into Powertrain and Aftermarket focused stand-alone company". Delphi Technologies website. Dec 5, 2017. https://www.delphi.com/newsroom/delphi-technologies/delphi-technologies-completes-spinoff-powertrain-and-aftermarket. 
  2. ↑ "Delphi Automotive Splits Into Two". Forbes. https://www.forbes.com/sites/joecornell/2017/12/06/delphi-automotive-splits-into-two/#36c877674257. 
  3. ↑ "Detroit News: Delphi split aiming to reckon technology, value". Detroit News. http://www.detroitnews.com/story/business/columnists/daniel-howes/2017/12/05/delphi-splits-aptiv-delphi-technologies/108319096/. 
  4. ↑ "Delphi Technologies Set to Join S&P MidCap 400 and Frontier Communications to Join S&P SmallCap 600". US: SPICE Indices. 28 November 2017. https://www.spice-indices.com/idpfiles/spice-assets/resources/public/documents/622759_dlphspinoilfrontier.pdf?force_download=true. 
  5. ↑ "CEO Butterworth: Delphi Tech is not old tech". AutoNews. http://www.autonews.com/article/20180702/OEM02/180709989/delphi-technologies-liam-butterworth. 
  6. ↑ "Delphi Tech says CEO steps down, cuts full-year forecasts". Reuters. https://www.reuters.com/article/us-delphi-techno-ceo/delphi-ceo-liam-butterworth-steps-down-idUSKCN1MF1KL. 
  7. ↑ "Delphi Tech names Richard Dauch as CEO". AutoNews. https://www.autonews.com/executives/delphi-tech-names-richard-dauch-ceo. 
  8. ↑ "BorgWarner to Buy Delphi Technologies in $3.3 Billion Deal". Wall Street Journal. https://www.wsj.com/articles/borgwarner-to-buy-delphi-technologies-in-3-3-billion-deal-11580214139. 

External links




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