Automodular Corporation: Impact Of General Motors' Restructuring.TORONTO -- Automodular Corporation (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :AM) ("Automodular") reports that approximately 50 employees may be impacted by the elimination of one shift of production in General Motors' Oshawa car plant #1 in the second half of 2006. Automodular does not expect to be materially impacted by the proposed shutdown of General Motors' Oshawa car plant #2 which is expected to close after the current production line runs out in 2008. Automodular is a supplier of sub-assembly, sequencing, transportation and logistics services to six OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and plants in Ontario, Michigan and Ohio. The Company has eight operating facilities and employs over 800 people. This press release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties. Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are market and general economic conditions and the risk factors detailed from time to time in the Company's periodic reports filed with the Canadian securities regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities and on SEDAR SEDAR System for Electronic Document Analysis and Retrieval SEDAR Southeast Data, Assessment, and Review at www.sedar.com. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Automodular Corporation (TSX:AM) |
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