Honda (HMC) Lightens Business Relationship with ATC Technology (ATAC)
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ATC Technology Corporation (ATC) (Nasdaq: ATAC) announced that its long-time customer, Honda (NYSE: HMC), has advised the Company of its decision to evenly split future requirements for remanufactured transmissions between ATC and another long-term supplier, effective as of the fourth quarter.
In commenting on Honda's decision, Don Johnson, Chairman and CEO said, "...Although these decisions collectively will not materially impact our financial guidance for 2008, they are further evidence of the value we bring to our relationship with Honda. We expect approximately $50 million in 2008 revenue with Honda."
ATC Technology Corp., formerly Aftermarket Technology Corp., along with its subsidiaries, provides outsourced engineering solutions and supply chain logistics services to the consumer electronics industries and light and medium/heavy-duty vehicle aftermarket.[SM]
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