Delphi comes back to the table

Manufacturing News, Source : TheManufacturer.com
Published : 19 Dec 2005 22:09

Auto parts maker Delphi reaffirmed today its commitment to reaching a consensual agreement with its unions and General Motors on a comprehensive restructuring of its operations.

In October, Delphi filed the largest bankruptcy in the US automotive history, and has been struggling to cut costs in order to successfully reorganize.

The company has set January 20, 2006, as a tentative deadline date to reach a consensus. It also announced that, in light of GM's recent engagement and discussions with the UAW, Delphi is withdrawing its previous November 15 proposal to its unions, which had been based solely on Delphi's financial constraints. Following these discussions, Delphi said it will continue to work toward creating effective solutions acceptable to Delphi and its stakeholders, as well as to the UAW, GM, and other unions.

Delphi also said that, to further facilitate discussions, it would delay filing motions rejecting current union agreements.

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