DOWNERS GROVE, Ill., March 28, 2007 (PRIME NEWSWIRE) -- Aftermarket Technology Corp. (Nasdaq:ATAC) today announced that it has signed a multi-year contract with BorgWarner Turbo and Emission Systems, a new customer for the Company. BorgWarner Turbo and Emission Systems is a leading supplier of turbocharging systems to the automotive and the medium- and heavy-duty truck industries.
Under the terms of the contract, ATC will support one of BorgWarner Turbo and Emission Systems' newest product lines by accepting used turbochargers for processing. ATC will conduct warranty analysis on the units, and then reclaim and salvage materials, clean the units and return them to BorgWarner Turbo and Emission Systems for final assembly and sale to the Aftermarket. Using state-of-the art processes, initially ATC will process up to an estimated 10,000 to 30,000 units/year at its Oklahoma City facility starting in the second half of 2007.
In commenting on the new relationship, Don Johnson, Chairman, President and CEO said, "We are pleased to add BorgWarner Turbo and Emission Systems, a premiere company, to our customer roster. We are working very closely with BorgWarner Turbo and Emission Systems personnel to assist them in achieving their goals in the marketplace. This is the initial program and we look forward to further expanding our relationship with BorgWarner Turbo and Emission Systems. This win is another step in ATC's strategy to grow in the medium-and heavy-duty industry to expand and diversify the company's customer base and product offerings."
The preceding paragraphs contain statements that are not related to historical results and are "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those that are predictive or express expectations that depend upon or refer to future events or conditions, or that concern future financial performance (including future revenues, earnings or growth rates), ongoing business strategies or prospects, or possible future Company actions. Forward-looking statements involve risks and uncertainties because such statements are based on current expectations, projections and assumptions regarding future events that may not prove to be accurate. Actual results may differ materially from those projected or implied in the forward-looking statements. The factors that could cause actual results to differ are discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2006 and other filings made by the Company with the Securities and Exchange Commission.