Hayes Lemmerz Signs License Agreement with Russian Wheel Producer
19 August 2006 - 12:07AM
PR Newswire (US)
NORTHVILLE, Mich., Aug. 18 /PRNewswire-FirstCall/ -- Hayes Lemmerz
International, Inc. (NASDAQ:HAYZ) announced today that its
wholly-owned German subsidiary, Hayes Lemmerz Holding GMBH, has
entered into a license agreement with Tolyatinskiy Zavod Stalnih
Kolyos (TZSK) of Togliatti, Russia, a manufacturer of steel wheels.
Under terms of the agreement, Hayes Lemmerz has granted a license
to TZSK to use certain technology in the manufacture and sale of
certain passenger car steel wheels to specific Russian vehicle
manufacturers. "We are pleased about this licensing agreement and
believe it will position us for substantial growth in this new
market," stated Fred Bentley, President and Chief Operating Officer
of Hayes Lemmerz' Global Wheel Group. "We look forward to working
closely with Hayes Lemmerz on this exciting new opportunity. Hayes
Lemmerz' technology and know how, combined with our local
expertise, will help us penetrate the rapidly growing Russian
vehicle market," said TZSK President, Valeriy Shiyanov. Hayes
Lemmerz International, Inc. is a leading global supplier of
automotive and commercial highway wheels, brakes, powertrain,
suspension, structural and other lightweight components. The
Company has 34 facilities and approximately 10,000 employees
worldwide. DATASOURCE: Hayes Lemmerz International, Inc. CONTACT:
Marika Diamond of Hayes Lemmerz International, Inc.,
+1-734-737-5162 Web site: http://www.hayes-lemmerz.com/
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