CITATION CORPORATION
27275 Haggerty Road
Suite 420
Novi, MI 48377
(248) 522-4500
November 25, 2009
Citation Corporation Wins $50 Million Brake Program with Continental Teves
for North American Hybrid Vehicles
Novi, Mich., November 25, 2009 - Citation Corporation today announced it recently won a $50 million new business contract with Continental Teves to supply iron-cast brake components for hybrid small cars and crossover utility vehicles (CUVs) for the North American market. Continental Teves is a subsidiary of Continental AG.
The program will launch in October 2011 at Citation’s Brewton, Ala., facility and includes brake calipers and anchors, core products manufactured by the company. The program is expected to be in production for up to five years and generate $50 million in revenue over the life of the program.
“Citation and Continental Teves have partnered for more than five years on several passenger car, sport utility vehicle (SUV) and CUV programs, and this contract reaffirms our ability to meet customers’ increased needs for critical brake applications on hybrid vehicles,” said Citation’s newly-appointed Vice President of Sales and Marketing, Tony Lovell.
Citation is a privately held corporation headquartered in Novi, Mich. Citation employs 1,100 people at 10 manufacturing facilities in Alabama, Indiana, North Carolina and Wisconsin. The company designs, develops and manufactures high-quality cast, machined and assembled components for the transportation and industrial markets.
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For more information, contact: Erin Millerschin, The Millerschin Group at 248-276-1970
emillerschin@millerschingroup.com