CHARLOTTE, NC — Contech, a unit of SPX Corp., has received several new die-cast projects, with an estimated annual revenue of approximately $18 million. Production of each of the five new components will launch by January 2006.
Both aluminum and magnesium, the new die-castings include two rack and pinion steering housings, the company’s core product line. The rack and pinion steering housings will be used on several DaimlerChrysler vehicles including three Mercedes Benz platforms and the PT Cruiser.
According to Jim Peters, president of SPX’s Product Solutions Group, the new components enhance the business unit’s future growth potential with its strategic customers.
“Our efforts to provide the highest quality components to our customers are paying off,” said Peters. “Each of the new projects is the result of numerous actions by members of the Contech team over several months. We focus on providing solutions for our customers while optimizing our own use of capital. It’s a win – win combination.”
For more information about SPX, go to: www.spx.com.
Click here to view the rest of today’s headlines.