Tier One Automotive Supplier Awards 15 Parts For Nissan and Honda Vehicles To Ice; Contract Valued at More than $500,000 Annually
TOLEDO, Ohio – March 29, 2007 – Ice Industries, a leading metal stamping, welding and assembly company, announced today it was selected to provide ongoing manufacturing support to M-TEK, Inc., a Tier One automotive supplier that provides injection molded plastic interior components and fascias.
The contract includes 15 parts for Nissan and Honda vehicles manufactured in the United States and Canada. Ice acquired 13 of the 15 parts as takeover work from a stamping company that closed due to bankruptcy.
“The sudden inability of a stamping provider to fulfill a number of small but essential steel reinforcement parts led us to review the capabilities of a number of leading stamping companies,” said Rick Hershman, General Manager of Purchasing, M-TEK. “Ice was able to assume the dies and continue production seamlessly, without a single delay to the OEMs.”
Since taking over the original dies, Ice has won two additional parts and has engineered and managed the building of new dies and gauges in less than
10 weeks.
The agreements are valued at more than $500,000 annually. The parts will be used on multiple vehicle platforms at Honda and Nissan with product life cycles ranging from three to five years.
Ice will provide parts to at least two of M-TEK’s five automotive facilities. Ice will manufacture 11 parts for M-TEK’s Madison, Miss. facility. The parts will be produced at the Ice Mississippi plant in Grenada, and shipments have already begun. The parts will eventually be used at the Nissan assembly plant in Canton, Miss.
Ice will supply four parts to M-TEK’s Upper Sandusky, Ohio facility. Production shipments began in February from the Ice Deerfield Manufacturing plant in Mason, Ohio. The parts will be used at Honda assembly plants in East Liberty, Ohio and Alliston, Ontario, Canada.
“Ice is pleased that a well-respected Tier One supplier like M-TEK has awarded us a takeover contract from a former supplier,” said Paul Bishop, President and Chief Operating Officer, Ice Industries. “Ice is focused on helping customers like M-TEK who find themselves in need of a responsive and customer-oriented supplier they can depend on for quick part takeovers as the market for metal forming continues to consolidate – as well as an ability to quickly support new products as they come online. Ice looks forward to a strong, lasting relationship with M-TEK.”
About M-TEK
M-TEK, Inc. is an automotive interior trim products manufacturer that produces door trim, trunk trim, interior plastic injection trim, center consoles, roof systems and rear deck shelves. The company offers design, material development, testing and tooling manufacturing. Founded in 1986, M-TEK is headquartered in Manchester, Tenn., with five manufacturing plants located in Tennessee, Ohio, Mississippi and Alabama. M-TEK offers its customers solid performance, innovative technology and competitive pricing.
About Ice Industries
Ice Industries is a metal stamping, welding and assembly company based in Sylvania, Ohio. The company has three facilities: Acklin Stamping in Toledo; Deerfield Manufacturing in Mason, Ohio; and Grenada Stamping & Assembly in Grenada, Miss. The company works with leaders in the automotive, appliance and heat transfer/HVACR industries. For more information, please visit http://www.iceindustries.com.