Autocam Forecasts 15 Percent Increase In Revenues for 2010 Growth Resulting From Pressure to Deliver Better Fuel Economy
KENTWOOD — The precision components market is seeing strong growth this year built on legislative and market pressures to push fuel economy higher in the next decade. As a result, Autocam, a precision parts manufacturer headquartered in Kentwood, Michigan, announces new business and a strong forecast for 2010. Sales are expected to continue to grow 12 percent year on year beyond 2010, driven by this surge and Autocam's preferred supplier status recently awarded by Robert Bosch LLC, the world's largest Tier 1 component supplier.
"Improvements to fuel economy are driven by new, innovative designs and technologies. Increasingly, those innovations require some components to be manufactured to extremely high tolerances. Not everyone has the experience to produce those parts at both high volume and exceptional quality. We're one of the best in the world and as a result, companies are increasingly turning to Autocam to hit their targets," says Chris Qualters, vice president of Sales.
Autocam announces that it has secured new business recently, resulting from emerging fuel system programs. Autocam will be supplying high precision, extremely close tolerance components to be used in Gasoline Direct Injection Fuel systems.
The boom in precision component manufacture is not only driving revenue growth, it also is benefiting the local Michigan economy. "We are already hiring product managers, engineers, and technicians in our Michigan facilities and I expect that we will continue to do so in all our global locations over the next couple of years," says John Kennedy, Autocam president and CEO. "In addition to the people, our board has approved a plan to invest in new technologies and equipment to ensure we continue to provide the very best to our customers and exceed their expectations," says Kennedy.
As a result, Autocam's growth is likely to be felt at each of its locations worldwide. "Demand for better fuel economy is not just a domestic market issue. The pressure is on all around the world. This aligns perfectly with our global capabilities and process technologies. Any way you look at it, either from an economic or environmental standpoint, the demand for better fuel economy is only going to increase," says Qualters. "We feel we're perfectly positioned to field this growth moving forward."
Robert Bosch LLC was on hand recently to present Autocam with "Preferred Supplier" Status. This certifies Autocam as a global partner to Bosch capable of meeting the technology, quality, delivery and value required to be a supplier of key precision components into the products that Bosch supplies to its customers.
"We are proud that Bosch has elevated us to preferred supplier status," says Kennedy. "Bosch products and technologies are part of what make them so successful in the automotive market. They are one of our top global customers and we look forward to continuing our long standing successful relationship with them."