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PTCCmike
Cruiser Veteran
/ Moderator
PT Cruiser Club Member
Posted: Nov 26, 2002, 7:00 PM
Post #1 of 2
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News: steel fuel tanks for the "PT Cruiser" platform of years 2005 - 2009
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Press Release Source: Spectra Premium Industries Inc.
Spectra Premium will Manufacture Steel Fuel Tanks for DaimlerChrysler's "PT Cruiser"
Tuesday November 26, 8:30 am ET
BOUCHERVILLE, Nov. 26 /CNW/ - Spectra Premium Industries Inc. (TSX: SPD - News) announces today the conclusion of another OEM (Original Equipment Manufacturer) contract for the manufacture of steel fuel tanks.
Spectra Premium, in partnership with Kautex, a leading manufacturer of fuel systems, was awarded a contract to develop and manufacture steel fuel tanks for the "PT Cruiser" platform of years 2005 - 2009 for the Californian market. This contract represents a potential commercial value of close to $12 million (more than $2 million per year). Initial deliveries are expected for the month of July 2004.
"We are honored to be involved in the production of the popular PT Cruiser and this first contract involving DaimlerChrysler's vehicles clearly confirms our ability to expand our customer base at the OEM level, as we announced earlier this year three contracts involving another of the big three automobile manufacturers," declared Mr. Jacques Mombleau, President and Chief Executive Officer of Spectra Premium.
This is the second contract awarded to Spectra Premium for the manufacture of steel fuel tanks to be installed on vehicles exclusively destined to the California market. This production for California is within the scope of the PZEV program (partial zero emission vehicle) aimed at reducing air pollution caused by vehicles in accordance to the regulations established by the "California Air Resources Board", which are the most stringent in North America.
The potential commercial value of all OEM contracts signed to date this year lies between $55 and $70 million, representing from $17 to $22 million on an annual basis. These contracts will start generating revenues in 2003.
PROFILE
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Spectra Premium is the world leader in the manufacture of fuel tanks and related components for the automobile and light-truck aftermarkets. The Corporation ranks first in the Canadian automobile and industrial radiator, radiator component, remanufactured compressor and new and reconditioned oil pan aftermarkets. It also maintains a presence in markets such as sending units, condensers, heater cores and other air-conditioning parts. Recently, the Corporation expanded its activities in the OEM market by producing radiators for industrial applications, such as power supply equipment, and in addition, signed their first automotive O.E.M. contracts to supply steel fuel tanks. Spectra Premium currently employs approximately 1,520 people in its eight (8) plants and 51 distribution centers, which are located throughout Canada, the United States and Europe. Its shares are traded on the Toronto Stock Exchange (ticker symbol: SPD).
_________________________________________________________________________
PROSPECTIVE FINANCIAL INFORMATION
This press release includes forward-looking statements that involve a
number of risks and uncertainties. The Company would like to point out
that its results, or the measures it adopts, could differ materially from
those indicated or underlying these statements, or could have an impact
on the realization of a particular financial projection.
_________________________________________________________________________
For further information
Jacques Mombleau, C.A., President and Chief Executive Officer, (450) 641-3656 ext. 2230
Denis Poirier, C.A., Executive Vice-President and Chief Financial Officer, (450) 641-3656 ext. 2245
Bélanger Rheault Communications, Daniel Rheault, (514) 842-2828
Source: Spectra Premium Industries Inc.
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Source: Spectra Premium Industries Inc.
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Posts: 4940 | From: Long Beach, WA
| Registered: Sep 1, 1999, 12:00 AM
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Richard in Idaho
Cruiser Certified
PT Cruiser Club Member
Posted: Dec 11, 2002, 8:26 PM
Post #2 of 2
(649 views)
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News: steel fuel tanks for the "PT Cruiser" platform of years 2005 - 2009
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The good news here is that they plan on making PTs at least the 2009 model year.
Is the 2005 going to be redone? 
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Richard Westcott
Idaho/Montana Director
Meridian, ID
Red, 2006 GT
Mods:
Fuzzy Dice.
Presto Change-o third brake light mask.
More to come.
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Posts: 1570 | From: Meridian, ID
| Registered: May 2, 2000, 12:00 AM
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