Noble Receives First Laser-Welded Structural Tube Order
WARREN, Mich., Nov. 3, 2005 -- Noble International, Ltd. ("Noble" or the "Company") announced that it has received its first order for a laser-welded structural tube application for a North American passenger car program. Noble expects to begin volume production in the third quarter of 2006. Total annualized revenue from the program is projected to be approximately $2.5 million.
Christopher L. Morin, Noble's President and Chief Executive Officer, stated, "As I said when we began developing this technology two years ago, we believe that laser-welded tubular structures represent a major part of Noble's future. I am confident that this first structural application for a laser- welded tube is only the beginning of Noble's growth and leadership in this new market. The Noble Advanced Technologies team has worked long and hard to take laser-welded tubes from a concept to being ready for production. Along the way, the team demonstrated our ability to solve problems for our customers, offering superior performance at a lower cost. We also demonstrated that our laser-welded tubular products truly are 21st Century Auto Body Structures.(SM)"
Mr. Morin continued, "In addition to this order, Noble continues to receive inquiries and prototype requests on an almost daily basis. We believe that momentum is now moving in our direction, toward the compelling value and performance of our laser-welded tubular solutions. Noble will continue to push the development of these products and anticipate receiving more program awards in the months ahead."
SAFE HARBOR STATEMENT
Certain statements made by Noble International, Ltd. in this presentation and other periodic oral and written statements, including filings with the Securities and Exchange Commission, may be "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements, as well as statements which address operating performance, events or developments that we believe or expect to occur in the future, including those that discuss strategies, goals, outlook or other non- historical matters, or which relate to future sales or earnings expectations, cost savings, awarded sales, volume growth, earnings or a general belief in our expectations of future operating results, are forward-looking statements. The forward-looking statements are made on the basis of management's assumptions and estimations. As a result, there can be no guarantee or assurance that these assumptions and expectations will in fact occur. The forward-looking statements are subject to risks and uncertainties that may cause actual results to materially differ from those contained in the statements. Some, but not all, of the risks include our ability to obtain future sales; our ability to successfully integrate acquisitions; changes in worldwide economic and political conditions, including adverse effects from terrorism or related hostilities including increased costs, reduced production or other factors; costs related to legal and administrative matters; our ability to realize cost savings expected to offset price concessions; inefficiencies related to production and product launches that are greater than anticipated; changes in technology and technological risks; increased fuel costs; work stoppages and strikes at our facilities and that of our customers; the presence of downturns in customer markets where the Company's goods and services are sold; financial and business downturns of our customers or vendors; and other factors, uncertainties, challenges, and risks detailed in Noble's public filings with the Securities and Exchange Commission. Noble does not intend or undertake any obligation to update any forward-looking statements.