Commercial Vehicle Group to Close Seattle, WA, Operations
Commercial Vehicle Group has announced it will close its Seattle,WA, manufacturing facility and transfer operations by the end of December in a move designed to improve its customer service and strengthen the company’s long-term competitive position. CVG’s Seattle operation produces interior trim products for heavy-duty trucks and marine products for OEMs. The work currently performed at the Seattle facility will be distributed to existing CVG plants in the United States.
Commercial Vehicle Group Revises Fourth Quarter 2006 Estimates
NEW ALBANY, OH — Commercial Vehicle Group, Inc. (CVGI) said it will lower its fourth quarter 2006 earnings per share estimates by approximately 20 cents to 30 cents, due to specific events occurring during the fourth quarter 2006. Estimates had previously been in the range of 70 cents to 72 cents per diluted share for
Commercial Vehicle Group to Build New Corporate Headquarters and R&D Technical Center
Commercial Vehicle Group, Inc. (CVGI), has announced plans to build a new 89,000-square-foot corporate office and research and development technical center in New Albany, OH. The facility will combine four existing locations in the central Ohio area and create a centralized research and development technical center directly connected to the company’s corporate headquarters.
Commercial Vehicle Group Promotes Pippen to Director of Quality
Fred Pippen has been promoted to the position of director of quality for Commercial Vehicle Group (CVG) Americas. CVG is a supplier of fully integrated system solutions for the global commercial vehicle market. In this new role, Pippen will be responsible for overall quality systems management, directing supplier quality management and development, supporting emerging market supplier identification and development and coordination of CVG America’s customer quality liaison support.
Commercial Vehicle Group Reports Second Quarter Results, Provides Revised 2006 Estimates
Commercial Vehicle Group, Inc. (CVGI) reported revenues of $234.8 million for the second quarter ended June 30, up 19.7 percent compared to $196.1 million in the prior-year quarter. Operating income for the second quarter was $26.8 million, a 3.9 percent increase, compared to $25.8 million last year.
Commercial Vehicle Group Expanding Manufacturing Facility in Mexico
Commercial Vehicle Group (CVG) has announced plans to expand its Electrical/Mechanical Division (EMD) by adding a 175,000-square-foot manufacturing and technology facility in Agua Prieta, Mexico. The new facility will consolidate three existing facilities currently operating in Agua Prieta and provide for future growth and expansion.
Commercial Vehicle Group Named to New NASDAQ Global Select Market
Beginning July 3, Commercial Vehicle Group, Inc. (CVGI) will be included in the new NASDAQ Global Select Market. Prior to the change, the company had been listed on the NASDAQ National Market. CVGI joins other motor vehicle related businesses such as Monro, which was also recently named to the new index. NASDAQ announced the new three tier listing classification in February.
Commercial Vehicle Group Named a BusinessWeek Top 100 Hot Growth Stock
Commercial Vehicle Group, a supplier of interior systems, vision safety solutions and other cab-related products for the global commercial vehicle market, including the heavy-duty (Class 8) truck market, has been selected from among thousands of public companies as a Top 100 Hot Growth Stock by BusinessWeek magazine.
Commercial Vehicle Group Reports First Quarter 2006 Results
Commercial Vehicle Group reported revenues of $229.3 million for the first quarter, which ended March 31, up 50.5 percent compared to $152.4 million in the prior-year period. Operating income for the first quarter was $25.5 million, a 52.7 percent increase, compared to $16.7 million last year. Net income for the quarter was $13.4 million, or 62 cents per diluted share, compared to $10.9 million, or 59 cents per diluted share, in the prior-year quarter. Fully diluted shares outstanding for the quarter were 21.5 million compared to 18.3 million in the prior-year quarter.
Commercial Vehicle Group Division Achieves Diamond Supplier Recognition
Mayflower Vehicle Systems of Norwalk, OH, a division of the Commercial Vehicle Group, Inc., was recently recognized as a 2005 Diamond Supplier to the International Truck and Engine Corp. Diamond Supplier recognition is granted to suppliers who meet or exceed International’s performance expectations for quality, delivery and cost.