| INDUSTRY - January
'98 Good Day, Sunshine
Webasto Sunroofs to build production facility in
Lexington
Buoyed by the continuing strong growth in the sunroof
market, Webasto Sunroofs, Inc. will build a 95,000-square-foot manufacturing facility in
Lexington.
Webasto's existing administrative and sales offices,
technical center and assembly and stamping operations remain at the company's headquarters
in Rochester Hills, Michigan.
Construction on the new plant, which will be located in
Blue Grass Business Park on Georgetown Road, is scheduled to begin immediately. Production
start-up is slated for June.
The announcement was made by Fred Olson, vice president of
Webasto Sunroofs, Inc., at a groundbreaking ceremonies for the plant.
"The growing preference of American car and truck
buyers for power sunroofs has translated into a significant increase in business for
Webasto. As consumers continue to want vehicles which reflect their lifestyles, we expect
the increased demand to continue well into the next century," said Olson.
Olson said the new plant, which will initially employ 100
persons, will enable Webasto to nearly double its sunroof assembly capacity in north
America.
"With the addition of the Lexington plant, we increase
our capabilities to provide customers with quality products and strengthen our standing as
the OEM and aftermarket leader in the rapidly expanding sunroof market," said Olson.
"We're excited and very optimistic about the future of
the industry and the sunroof segment. This plant, which will improve geographical access
to our customers, is an integral part of our continuing strategy to achieve customer
satisfaction through quality, delivery, service, increased competitiveness and to provide
more opportunities for our employees," said Olson.
The company, which posted $177 million (U.S.) in sales for
its fiscal year ending December 31, 1996, is North America's largest supplier of sunroofs
to the automobile manufacturers and aftermarket. A joint venture of Germany-based Webasto
AG and Canada's Magna International (through its Atoma Closure & Electronic Systems
Group), Webasto currently employs more than 700 people in the U.S.
Webasto AG, the world's largest supplier of sunroofs to the
automotive industry, has operations in 10 countries providing sunroof systems, heating and
cooling systems for commercial vehicles, and other components to all of the world's major
automakers. Worldwide, Webasto AG employs 3800 persons and has sales in excess of $800
million.
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