Hayes Lemmerz International Reports Impact of G.M. Strike
4 August 1998
Hayes Lemmerz International Reports Impact of G.M. StrikeROMULUS, Mich., Aug. 4 -- Hayes Lemmerz International, Inc. , today reported its second quarter 1998 earnings per share will be adversely impacted as a result of the work stoppages at the General Motors plants. Earnings per share for the quarter ending July 31, 1998, have been adversely affected by approximately $0.16 per share. Sales for the same period have been impacted by approximately $29.0 million. Hayes Lemmerz International, Inc., with annual sales of over $1.7 billion, is the world's largest wheel manufacturer and is a leader in the design, engineering, and manufacture of steel and aluminum wheels and brake drums and rotors for the automotive and commercial highway markets in North and South America, Europe and Asia. Hayes Lemmerz International has more than 8,500 employees and 26 manufacturing facilities in 12 countries worldwide. This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the anticipated results as a result of certain risks and uncertainties, including but not limited to general economic conditions in the markets in which Hayes operates, fluctuations in the production of vehicles for which the Company is a supplier, labor disputes involving the Company or its significant customers, risks associated with conducting business in foreign countries, and other risks detailed from time to time in the Company's Securities and Exchange Commission filings.