SOURCE: Delphi Corporation

August 04, 2008 08:00 ET

Iteris and Delphi Team to Market Active Safety Technologies for Commercial Truck Market

Iteris Broadens Its Active Safety Portfolio by Becoming Exclusive North American Distributor of Delphi's Forward Collision Warning System for the Heavy Truck Market

TROY, MI--(Marketwire - August 4, 2008) - Leaders in advanced traffic management technologies and active safety systems, Iteris, Inc. (AMEX: ITI) and Delphi (PINKSHEETS: DPHIQ) announced that Iteris has been named the exclusive distributor of Delphi's Forward Collision Warning System for North American commercial vehicles. Iteris will utilize its highly successful commercial truck OEM and aftermarket sales channels and application engineering expertise to integrate Delphi's radar-based technology into its product portfolio for heavy truck customers. Iteris will also be authorized to sell Delphi's Side Alert blind spot warning system in North America.

A pioneer in vehicle safety systems, Delphi has more than 35 years experience in developing and manufacturing passive and active safety systems. Delphi began developing active safety more than 20 years ago and was one of the first suppliers to launch a radar-based adaptive cruise control system in 1999. Using the same radar platform, Delphi has continued to add features and functionality to its system including forward collision warning. Additionally, Delphi's Side Alert blind spot detection system helps alert drivers of heavy truck drivers of vehicles in their side blind spots when changing lanes.

With the addition of forward collision and blind spot warning, Iteris now offers a comprehensive suite of active safety driver assistance features that focus on increasing the safe operation of heavy trucks. These features also include Iteris' market-leading vision-based Lane Departure Warning system (LDW) and the Iteris SafetyDirect™ LDW data collection system. The combination of these systems creates an overall best-in-class active safety package, which provides not only lane departure warnings but also assists drivers with longitudinal and lateral awareness support.

"I am excited about our agreement that combines Delphi's unique technology with Iteris' distribution and marketing capabilities to provide Delphi's radar-based warning systems to our fleet and OEM customers," said Abbas Mohaddes, Iteris' president and chief executive officer. "I expect our relationship with Delphi to expand the opportunity for Iteris to provide best-in-class active safety solutions to the heavy truck market and provide a platform to generate additional revenue."

Delphi's Forward Collision Warning system is designed to increase driver awareness of tailgating situations and impending collisions in all weather and lighting conditions. The extra seconds of warning provided by the system help provide drivers with additional time needed to take appropriate action to help avoid a crash. In addition, the system's Headway Alert feature provides long-range sensing to help the driver maintain a safe following distance well beyond the capability of any vision-based system.

Delphi's Side Alert blind spot detection system helps commercial vehicle drivers that are changing lanes or engaging in other maneuvers to resolve some of the challenges from blind spots that exist to the sides of heavy trucks. The blind spot warning system helps drivers avoid or reduce the severity of side-related accidents resulting from collisions with vehicles and objects in the side blind spot. When a vehicle or object is detected the system visually alerts the driver to help avoid an accident. When the turn signal is activated and a vehicle or object is detected an audible alert is also provided.

"Delphi is very pleased to team with Iteris, a prominent commercial vehicle product innovator and distributor, to help provide a more comprehensive and integrated active safety suite for the commercial vehicle market," said Beth Schwarting, vice president of the Delphi Safety Systems product business unit. "Active safety products help to provide drivers of commercial trucks with more time to react to avoid collisions."

Iteris' LDW system was the first-of-its-kind to be deployed in the commercial truck and passenger car markets and it still remains the only vision-based system in mass production in the U.S. and Europe. Iteris has sold over 55,000 LDW systems to the heavy truck market worldwide representing an estimated billion of miles traveled per year. In the U.S., there are currently 65 fleets specifying Iteris' LDW system with a combined fleet size of nearly 49,000 trucks and another 83 fleets with approximately 156,000 trucks conducting field tests.

Iteris' Safety Direct™ system analyzes real-time lane departure warning data captured by Iteris' LDW system and can relay this information directly to fleet operators through integration with the truck's existing fleet communications system. The system provides an immediate warning to fleet operators if their drivers are having difficulty staying in their lanes, often a first indicator of driver drowsiness or other potential problems.

According to the National Highway Traffic Safety Administration, rear-end, lane change and roadway departure crashes account for approximately 3.6 million police-reported crashes each year on U.S. roadways. These three crash types result in about 27,500 of the Nation's 42,000 annual traffic fatalities and contribute to a considerable economic loss due to injuries, property damage, and decreased productivity. Iteris' cutting-edge active safety systems are designed to help reduce the number of motor vehicle crashes and the severity of crash-related injuries.

About Iteris, Inc.

Iteris, Inc. is a leader in the traffic management market. Iteris is focused on the development and application of advanced technologies that reduce traffic congestion, minimize the environmental impact of traffic congestion and improve the safety of surface transportation systems. Combining outdoor image processing, traffic engineering and information technology, Iteris offers a broad range of Intelligent Transportation Systems and driver safety solutions to customers worldwide. Iteris is headquartered in Santa Ana, California with offices throughout the U.S., Europe and Asia. Investors are encouraged to contact us at 888-329-4483, or at www.iteris.com.

About Delphi

Delphi is a leading global supplier of mobile electronics and transportation systems, including power train, safety, thermal, controls & security systems, electrical/electronic architecture, and in-car entertainment technologies. Engineered to meet and exceed the rigorous standards of the automotive industry, Delphi technology is also found in computing, communications, consumer electronics, energy and medical applications. Headquartered in Troy, Mich., Delphi has approximately 169,500 employees and operates 156 wholly owned manufacturing sites in 34 countries with sales of $22.3 billion in 2007.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This release may contain forward-looking statements, which speak only as of the date hereof and are based upon our current expectations and the information available to us at this time. Words such as "believes," "anticipates," "expects," "intends," "plans," "seeks," "estimates," "may," "will" , "can" and variations of these words or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the performance and expected benefits of our technology including our Safety Direct™ and LDW systems as well as the Delphi Radar Systems, market opportunities, recurring revenue sources, strategies and our future prospects. These statements are subject to change and we undertake no obligation to revise or update publicly any forward-looking statements for any reason. These statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Therefore, our actual results could differ materially and adversely from those expressed in any forward-looking statements as a result of various factors.

Important factors that may cause such a difference include, but are not limited to the market acceptance of our technologies and of the products that incorporate our technologies; commercial vehicle and automotive production schedules and agendas; the timing and successful completion of customer qualification of the Delphi Radar Systems, the Safety Direct™ system, the LDW system and other products and the risks of non-qualification; market acceptance of the Delphi Radar Systems and our Safety Direct™ and LDW systems and the vehicles that incorporate our systems; our ability to specify, develop, complete, introduce, market and transition our products and technologies to volume production in a timely manner; the potential unforeseen impact of product offerings from competitors and other competitive pressures; and the general economic and political conditions and specific conditions in the markets we address, including the general economic slowdown and volatility in the heavy truck and automotive sectors. Further information on Iteris, Inc., including additional risk factors that may affect our forward looking statements, is contained in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, our Current Reports on Form 8-K and our other SEC filings that are available through the SEC's website (www.sec.gov).

Delphi FORWARD LOOKING STATEMENTS

This press release, including the exhibits being furnished as part of this report, as well as other statements made by Delphi may contain forward-looking statements that reflect, when made, the Company's current views with respect to current events and financial performance. Such forward-looking statements are and will be, as the case may be, subject to many risks, uncertainties and factors relating to the Company's operations and business environment which may cause the actual results of the Company to be materially different from any future results, express or implied, by such forward-looking statements. In some cases, you can identify these statements by forward-looking words such as "may," "might," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue," the negative of these terms and other comparable terminology. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: the ability of the Company to continue as a going concern; the ability of the Company to operate pursuant to the terms of the debtor-in-possession financing facility, to obtain an extension of term or other amendments as necessary to maintain access to such facility and to secure the anticipated advances from GM in order to obtain any such extension or amendment; the Company's ability to obtain Court approval with respect to motions in the chapter 11 cases prosecuted by it from time to time; the ability of the Company to consummate its amended plan of reorganization which was confirmed by the Court on January 25, 2008 or any other subsequently confirmed plan of reorganization; risks associated with third parties seeking and obtaining Court approval to terminate or shorten the exclusivity period for the Company to propose and confirm one or more plans of reorganization, for the appointment of a chapter 11 trustee or to convert the cases to chapter 7 cases; the ability of the Company to obtain and maintain normal terms with vendors and service providers; the Company's ability to maintain contracts that are critical to its operations; the potential adverse impact of the chapter 11 cases on the Company's liquidity or results of operations; the ability of the Company to fund and execute its business plan (including the transformation plan described in Item 1. Business "Plan of Reorganization and Transformation Plan" of the Annual Report on Form 10-K for the year ended December 31, 2007 filed with the SEC) and to do so in a timely manner; the ability of the Company to attract, motivate and/or retain key executives and associates; the ability of the Company to avoid or continue to operate during a strike, or partial work stoppage or slow down by any of its unionized employees or those of its principal customers and the ability of the Company to attract and retain customers. Additional factors that could affect future results are identified in the Annual Report on Form 10-K for the year ended December 31, 2007 filed with the SEC, including the risk factors in Part I. Item 1A. Risk Factors, contained therein. Delphi disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events and/or otherwise. Similarly, these and other factors, including the terms of any reorganization plan ultimately confirmed, can affect the value of the Company's various prepetition liabilities, common stock and/or other equity securities.

Contact Information

  • Contact:
    Iteris Investor Relations
    Brett Maas
    646-536-7331
    Email Contact

    Delphi Corp. Public Affairs
    Milton Beach
    (765) 451-0655
    Email Contact