Commercial Vehicle Group moves to diversify, consolidate
Jun 06, 2013 | 12:46 PM
| Corinna Petry
CHICAGO Commercial Vehicle Group Inc. aims to secure half of its revenue from outside North America within five years as part of an effort to diversify its geography and end markets.
The New Albany, Ohio-based manufacturer of cab structures, sleeper boxes, body panels and structural components for heavy trucks and mobile equipment from steel and aluminum, is adapting to highly cyclical demand by winning new contracts while consolidating facilities.
"We want to make sure no single end market (represents) more than 35 percent of revenues," chief financial officer Chad M. Utrup told investors June 4 during J.P. Morgan Chase & Co.s eighth annual Diversified Industries Conference. Today, half of the companys revenue comes from truck builders and nearly one-quarter from construction equipment, he added.....
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