Noble Enters Advanced Development Agreement with General Motors
Noble Also Launches Four New Laser Welding Programs During Second Quarter
WARREN, Mich., July 18 -- Noble International, Ltd. ("Noble" or the "Company") announced it has entered into an Advanced Development Agreement with General Motors ("GM") related to body structures for future vehicle programs. Under the terms of the agreement, Noble will work with General Motors to design structural systems that improve vehicle performance, safety and manufacturability while reducing cost and weight.
Noble's President, Steven A. Prue, stated, "By working together in the early stages of the vehicle design process, we can work with GM to maximize the benefits of laser-welded flat blanks and tubular structures. We believe this agreement provides us with the opportunity to drive the growth of the market for laser-welded structural components, thereby creating additional value for General Motors and their customers, as well as for Noble and its shareholders."
During the second quarter, Noble also launched four new laser welding programs comprised of 12 applications. Three of the four new programs were launched by Noble's new facilities in Adelaide, Australia and Stow, Ohio. Two of the new programs were launched at our Adelaide facility for GM's Holden subsidiary. All of the newly-launched programs are included in the Company's financial guidance for 2006.
Mr. Prue commented on the four new laser welding programs, "We view the launch of these four programs during the second quarter of 2006 as validation of our growth strategy and confirmation of the value that our products offer our customers. As we add more laser welding programs to our newer facilities, we expect to generate a greater return on those investments in the future."