CHICAGO Automotive steel
blanks producer Shiloh Industries Inc., which is under new
management and has been acquiring companies and locations,
recorded net income of nearly $2.6 million in its fiscal first
quarter ended Jan. 31, up 62.5 percent from $1.6 million in the
The Valley City, Ohio-based
metal stamper, welder and parts manufacturer posted revenues of
$145.4 millionup 9.8 percent from $132.4 million a year
earlierreflecting a 6.8-percent uptick in North American
light vehicle output as well as new-business wins, the company
profitability is being driven by increased revenue as a result
of higher volume in the North American vehicle-production
levels, new sales activities and our continued focus on
operating efficiency improvements and effective cost
management," president and chief executive officer Ramzi Hermiz
said during a March 1 earnings call.
The company expects "reasonable
demand from the market" moving forward, particularly from
automakers and their Tier I suppliers looking to lighten
vehicles, reduce noise and cut overall costs, said Hermiz, who
was named to his position in September.
First-quarter vehicle production
from the Detroit Three was up 4.4 percent, treasurer and vice
president of finance Thomas Dugan said on the call, while
output from other domestic carmakers jumped 19.3 percent, he
Shiloh has won new business with Auburn, Mich.-based
Chrysler Group LLC and Yokohama, Japan-based Nissan Motor Co.
Ltd., among other companies, the manufacturer added.