Noble Receives $50CDN Million Preferred Supplier Contract
15 April 1999
Noble International, Ltd. Receives $50CDN Million Preferred Supplier ContractBLOOMFIELD HILLS, Mich., April 14 -- Noble International, Ltd. ("Noble") (Amex: NIL) announced today that its Canadian operation, Tiercon Industries, Inc. ("Tiercon"), has been awarded the initial contract under this agreement, the upper fascia for the GMT800 Chevrolet front bumper (included on pick-up trucks, sport utility vehicles and Suburbans) from A. G. Simpson Automotive, Inc. ("Simpson"). Simpson is a Tier I supplier of bumper systems. Production under the GMT800 job is scheduled to commence during the fourth quarter of 1999. Based upon current projections, this GMT800 contract could produce sales of approximately $50CDN Million over the next five years. "This new agreement reflects the confidence that our customers are displaying in our products and services," stated Lloyd P. Jones, III, Noble's President and Chief Operating Officer. "Our injection molding facility's recent receipt of GM Supplier of the Year, as well as the new capabilities available at our soon-to-be-completed coating facility, contributed significantly to our being awarded this contract. The establishment of this relationship validates Noble's strategy to develop long term preferred supplier relationships with our strategic customers. These preferred supplier relationships give our Tier I customers a 'one-stop' shop to purchase products, services and integrated sub-systems." Keith Wettlaufer, President and Chief Operating Officer of Simpson, stated that, "I am impressed with the management team of Noble and its subsidiary, Tiercon, as well as their manufacturing expertise and world class facilities. By entering into this preferred supplier relationship with Noble, it is our belief that together we can produce industry-leading quality assemblies for our customers." Noble International, Ltd. is a leading full-service supplier of automotive parts, technology, component assemblies and value-added services to the automotive industry. As a supplier, Noble provides design, engineering, manufacturing, complete program management and other services to the automotive market. Noble delivers integrated component solutions, technological leadership and product innovation to original equipment manufacturers (OEMs) and Tier I automotive suppliers, thereby helping Noble's customers increase their productivity while controlling costs. Certain statements in this news release maybe "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933. Statements regarding future prospects and developments are based upon current expectations and involve certain risks and uncertainties that could cause actual results and developments to differ materially from the forward-looking statements.