Wescast Industries Inc.: Company Announcement
BRANTFORD, ONTARIO, Oct 27, 2012 (Menafn - MARKETWIRE via COMTEX) --Wescast Industries Inc.
Wescast Industries Inc. today confirmed that union members at itsmachining plant in Strathroy, Ontario began a legal strike thismorning.
The Company has put plans in place to ensure continued supply ofparts to customers.
Wescast Industries Inc. is a global automotive parts supplier thatdesigns, engineers, casts, machines and assembles high qualityengineered exhaust system components, including exhaust manifolds,turbocharger housings and integrated turbomanifolds, as well asvarious other components for the car and light truck markets. TheCompany supplies to a diversified group of global original equipmentmanufacturers ("OEMs") and Tier 1 customers in North America, Europe,Asia, Africa, South America and Australia. The Company employsapproximately 2,100 people in its regionally-based operations andsales and design centres in Canada, the United States, Hungary,China, Germany, Japan, the United Kingdom and France.
Learn more at www.wescast.com.
Forward Looking Statements
The contents of this news release contain statements which, to theextent that they are not recitations of historical fact, mayconstitute forward-looking statements based on certain assumptions.Forward-looking statements are provided for the purpose of providinginformation about management's current expectations and plansrelating to the future. Persons reading this news release arecautioned that such information may not be appropriate for otherpurposes. Such forward-looking statements may include financial andother projections as well as statements regarding Wescast's futureplans, objectives or performance for the current period andsubsequent periods and regarding the markets for our products. Thewords "may", "would", "could", "will", "likely", "expect","anticipate", "estimate", "intend", "plan", "forecast", "project" and"believe" or other similar words and phrases are intended to identifyforward-looking statements. Persons reading this news release arecautioned that such statements are only predictions, and thatWescast's actual future results or performance may be materiallydifferent.
This information is based upon certain material factors orassumptions that were applied in drawing a conclusion or making aforecast or projection as reflected in the forward-lookingstatements, including our perception of historical trends, currentconditions and expected future developments as well as other factorswe believe are appropriate in the circumstances.
Such forward-looking statements involve known and unknown risks,uncertainties and other factors which may cause actual results todiffer materially from those expressed or implied by suchforward-looking statements. These risks and uncertainties principallyrelate to the risks associated with the automotive industry andinclude, but are not limited to: our operating and/or financialperformance, including the effect of new accounting standards on ourreported financial results, fluctuations in interest rates, changesin consumer and business confidence levels, consumers' personal debtlevels, vehicle prices, the extent and nature of purchasing orleasing incentive campaigns offered by automotive manufacturers,environmental emission regulations, fuel prices and availability, thecontinuation and extent of outsourcing by automotive manufacturers,changes in raw material and other input costs, our ability tocontinue to meet customer specifications relating to productperformance, cost, quality, delivery and service, industrycyclicality or seasonality, trade and/or labour issues ordisruptions, customer pricing pressures, pricing concessions and costabsorptions, actual levels of program production volumes by ourcustomers compared to original expectations, including programcancellations or delays, dependence on certain engine programs andthe market success and consumer acceptance of the vehicles into whichsuch powertrain products are installed, our relationship with anddependence on certain customers, currency exposure, failures inimplementing Wescast's strategy, technological developments byWescast's competitors and customers, government and regulatorypolicies and changes in the competitive environment in which Wescastoperates.
Wescast does not undertake any obligation to update or release anyrevisions to these forward-looking statements to reflect events orcircumstances after the date of this news release or to reflect theoccurrence of unanticipated events, except as required by law.
Wescast Industries Inc.
Chairman & CEO
SOURCE: Wescast Industries Inc.
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