Spectra Premium Industries has received a contract to make steel fuel tanks for a Ford full-size van, according to Dow Jones.
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The Boucherville, Quebec, company reportedly said production of the steel fuel tanks for the vans is scheduled to start in June 2008 but the contract value wasn’t disclosed.
Separately, the maker of steel fuel tanks and related components for the automobile and light truck aftermarkets said it plans to sell the assets of most of its 35 US warehouses for about $C20m.
The assets will be sold to warehouse distributors that are already clients of Spectra, Dow Jones said.
On an annual basis, Spectra reportedly said the asset sales will result in a drop in overall sales of about $C25m, while the immediate effect on net profit will be “minimal.” Spectra will continue to operate a limited number of regional warehouses in the US.
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