Wescast Industries Inc.: Company Announcement
November 16 2012 - 4:25PM
Marketwired
Wescast Industries Inc. (TSX:WCS.A) today announced that the strike
by union members at its machining plant in Strathroy ended
following a ratification vote held earlier in the day. There were
no disruptions to customer shipments during the work stoppage.
About Wescast
Wescast Industries Inc. is a global automotive parts supplier
that designs, engineers, casts, machines and assembles high quality
engineered exhaust system components, including exhaust manifolds,
turbocharger housings and integrated turbomanifolds, as well as
various other components for the car and light truck markets. The
Company supplies to a diversified group of global original
equipment manufacturers ("OEMs") and Tier 1 customers in North
America, Europe, Asia, Africa, South America and Australia. The
Company employs approximately 2,200 people in its regionally-based
operations and sales and design centres in Canada, the United
States, Hungary, China, Germany, Japan, the United Kingdom and
France.
Learn more at www.wescast.com.
Forward Looking Statements
The contents of this news release contain statements which, to
the extent that they are not recitations of historical fact, may
constitute forward-looking statements based on certain assumptions.
Forward-looking statements are provided for the purpose of
providing information about management's current expectations and
plans relating to the future. Persons reading this news release are
cautioned that such information may not be appropriate for other
purposes. Such forward-looking statements may include financial and
other projections as well as statements regarding Wescast's future
plans, objectives or performance for the current period and
subsequent periods and regarding the markets for our products. The
words "may", "would", "could", "will", "likely", "expect",
"anticipate", "estimate", "intend", "plan", "forecast", "project"
and "believe" or other similar words and phrases are intended to
identify forward-looking statements. Persons reading this news
release are cautioned that such statements are only predictions,
and that Wescast's actual future results or performance may be
materially different.
This information is based upon certain material factors or
assumptions that were applied in drawing a conclusion or making a
forecast or projection as reflected in the forward-looking
statements, including our perception of historical trends, current
conditions and expected future developments as well as other
factors we believe are appropriate in the circumstances.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause actual results to
differ materially from those expressed or implied by such
forward-looking statements. These risks and uncertainties
principally relate to the risks associated with the automotive
industry and include, but are not limited to: our operating and/or
financial performance, including the effect of new accounting
standards on our reported financial results, fluctuations in
interest rates, changes in consumer and business confidence levels,
consumers' personal debt levels, vehicle prices, the extent and
nature of purchasing or leasing incentive campaigns offered by
automotive manufacturers, environmental emission regulations, fuel
prices and availability, the continuation and extent of outsourcing
by automotive manufacturers, changes in raw material and other
input costs, our ability to continue to meet customer
specifications relating to product performance, cost, quality,
delivery and service, industry cyclicality or seasonality, trade
and/or labour issues or disruptions, customer pricing pressures,
pricing concessions and cost absorptions, actual levels of program
production volumes by our customers compared to original
expectations, including program cancellations or delays, dependence
on certain engine programs and the market success and consumer
acceptance of the vehicles into which such powertrain products are
installed, our relationship with and dependence on certain
customers, currency exposure, failures in implementing Wescast's
strategy, technological developments by Wescast's competitors and
customers, government and regulatory policies and changes in the
competitive environment in which Wescast operates.
Wescast does not undertake any obligation to update or release
any revisions to these forward-looking statements to reflect events
or circumstances after the date of this news release or to reflect
the occurrence of unanticipated events, except as required by
law.
Contacts: Wescast Industries Inc. Ed Frackowiak Chairman &
CEO (519) 750-0000 www.wescast.com