“Our actions to integrate the operations of our most recent acquisition are running at, or ahead of, our planned pace,” continued Mr. Sindelar. “While an integration of this magnitude is always a continuing challenge, I am happy with the progress our team has so far made to streamline the combined cost environment and to achieve the anticipated economies of scale.”“As I look forward,” commented Sindelar, “similar to reports by many of our customers, suppliers and competitors, we are seeing signs of soft demand as we enter the final quarter of 2012. Further, I believe the effects of reduced demand for our company are being exaggerated by the required closure of our Huizhou, China factory and the production interruption caused by the fire in our Guangzhou, China factory. I expect a more significant fire-related impact in our fourth quarter than we experienced in our third quarter. Taken together with seasonally lower fourth quarter expectations, our book-to-bill ratio was less than one-to-one for the third quarter.”
Viasystems Announces Third Quarter 2012 Results
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