Viasystems Group, Inc. Updates Business Outlook

    ST. LOUIS--Sept. 24, 2001--Viasystems Group, Inc. today provided an updated outlook for the company's overall business as well as for financial performance for the third quarter ending September 30, 2001.
    "Viasystems continues to meet the current challenging conditions within the electronics manufacturing services industry," said David M. Sindelar, chief executive officer. "Several large telecommunications OEMs have informed their EMS partners that program ramps previously forecasted for late 2001 and early 2002 will likely be delayed until mid-2002. Viasystems is using this global production slowdown to accelerate capacity and capability enhancements in our Chinese operations, in order to offer more cost-competitive solutions when end markets improve. Management has also reduced expenses in our Western World operations by consolidating facilities, reducing overhead and streamlining the organization. These actions will improve short-term financial performance yet will not hinder our ability to respond to improved market conditions."
    The company also stated that financial performance for the third quarter, excluding restructuring charges, is anticipated to result in revenue of between $260 and $275 million with a net loss, adjusted for goodwill amortization, of between 18 and 20 cents per share. Earnings before interest, taxes, depreciation and amortization will total between $18 and $20 million. Viasystems management believes that this financial performance is sufficient to meet requirements under the company's current lending agreements. The company will report third-quarter financial results and host a management conference call after the close of trading on Tuesday, October 23.
    This press release contains forward-looking statements as defined by the federal securities laws, and these statements are based upon Viasystems' current expectations and assumptions, which are inherently subject to various risks and uncertainties that could cause actual results to differ from those anticipated, projected, or implied. Certain factors that could cause actual results to differ include fluctuations in operating results and customer orders, a competitive environment, reliance on large customers, risks associated with international operations, ability to protect patents and trade secrets, environmental laws and regulations, relationship with unionized employees, risks associated with acquisitions, substantial indebtedness, control by large stockholders and other factors described in Viasystems' filings with the Securities and Exchange Commission.
    Viasystems Group, Inc. is a leading global EMS provider with 21,000 employees and 34 manufacturing facilities in 10 countries, supplying customers in the telecommunications, networking, automotive and consumer electronics industries. Viasystems is listed on the New York Stock Exchange, trading under the symbol "VG."