Hayes Lemmerz International Inc. (OTC:HAYZ)
Industry: Consumer Goods
Hayes Lemmerz International, Inc. is a producer of aluminum and steel wheels for passenger cars and light trucks, and steel wheels for commercial trucks and trailers. The Company also supplies automotive suspension, brake and powertrain components. Hayes Lemmerz International, Inc.'s operating segments include Automotive Wheels and Components. The Automotive Wheels segment is engaged in the design and manufacture of fabricated steel and cast aluminum wheels for original equipment manufacturers (OEMs) in the global passenger car, light vehicle and heavy duty truck markets. The Components segment is primarily engaged in the design and manufacture of suspension, brake and powertrain components for OEMs or their suppliers in the global passenger car and light vehicle markets. The Company's products are sold to North American, Japanese and European manufacturer of passenger cars and light trucks, and to commercial highway vehicle customers throughout the world. In November 2005, the Company acquired an additional 20% interest in Jantas Aluminyum Jant Sanayi ve Ticaret, A.S. Jantas Aluminyum Jant Sanayi ve Ticaret, A.S. is a Turkish aluminum wheel joint venture, in which the Company held a 40% interest, which was then merged into Hayes Lemmerz-Inci Jant Sanayi A.S., in which Hayes Lemmerz International, Inc. holds a 60% interest. On December 5, 2005, Hayes Lemmerz International, Inc. sold its wholly owned subsidiary, Hayes Lemmerz International-Cadillac, Inc., which produced ductile iron castings. On November 14, 2005, the Company sold its ownership interest in its Commercial Highway Hub and Brake Drum business to Precision Partners Holding Company. On October 17, 2005, it announced the sale of its aftermarket brake controller business to Hayes Brake Controller Company. On June 30, 2005, the Company sold Hayes Lemmerz International-Equipment and Engineering, Inc. This business provided equipment and engineering services for the metal casting industry. The transaction included the Company's operations in Au Gres, Michigan. Automotive Wheels Products The Automotive Wheels segment includes three principal classes of products, cast aluminum wheels for passenger cars and light trucks, fabricated steel and aluminum wheels for passenger cars and light trucks, and fabricated steel wheels for commercial trucks and trailers. The Company designs, manufactures and distributes a line of cast aluminum wheels to automotive OEMs in North America, Europe, South America, South Africa and Asia. It manufactures aluminum wheels with finishes, such as GemTech machining and clads. During the fiscal year ended January 31, 2006 (fiscal 2005), it sold majority of its North American cast aluminum wheel production to DaimlerChrysler, Ford Motor Company and General Motors Corporation for use on vehicles produced in North America. The remainder of its North American cast aluminum wheel production was sold to Japanese OEMs in the United States. Hayes Lemmerz International, Inc. designs, manufactures and distributes a line of cast aluminum wheels to the passenger car and light truck markets in Europe. Substantially all of its European cast aluminum wheels are sold to BMW, DaimlerChrysler, Fiat, Ford, General Motors, Honda, Nissan/Renault, Peugeot, Porsche, Toyota and Volkswagen. It also designs, manufactures and distributes a line of cast aluminum wheels to OEMs in South America, South Africa and Asia. The Company's South American cast aluminum wheels customers include Ford, General Motors, Nissan/Renault and Volkswagen. The Company designs, manufactures and distributes fabricated steel and aluminum wheels for passenger cars and light trucks in North America, Europe and South America. Its fabricated wheel products include steel and aluminum wheels that can be made in drop-center, bead seat attached and full-face designs, as well as in a variety of finishes, including chrome and clads. During fiscal 2005, Hayes Lemmerz International, Inc. sold substantially all of its North American fabricated steel wheels to DaimlerChrysler, Ford and General
As Of: 10/07 00:00 ET
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