Tower International, auto industry supplier of engineered structural metal components and assemblies, boosted first quarter sales 25% to US$600m and adjusted EBITDA 30% to $65.7m as higher volume was offset partially by less-favourable product mix and launch-related costs. Net income was $9m or $0.45 per share.
“It was an excellent start to 2011 for Tower,” said president and CEO Mark Malcolm. “We continued to deliver our ongoing priority of converting recovering auto volumes into improved earnings and good margins.”
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