AUBURN HILLS, Mich., Aug. 16, 2016 /PRNewswire/ -- Unique Fabricating, Inc. ("Unique" or the "Company")(NYSE MKT: UFAB), which engineers and manufactures multi-material foam, rubber, and plastic components utilized in noise, vibration and harshness management and air/water sealing applications for the automotive and industrial appliance market, today announced it has been awarded a new program order by a major German OEM for its TwinShape® foam duct to be installed in a popular mid-size SUV beginning in the first quarter of 2017.
"This award expands the production and utilization of our lightweight, flexible TwinShape duct system and provides one of our key customers with an innovative solution that directly addresses auto manufacturers' priorities for weight reduction, quieter vehicles and fuel efficiency," said John Weinhardt, Chief Executive Officer. "More and more, auto suppliers are recognizing our light weight TwinShape duct system as a superior alternative to conventional blow molded duct components. We have ongoing development and prototyping programs with five additional OEMs, or their Tier 1 suppliers, for potential inclusion of this product in future new vehicle launches. This remains a significant market opportunity for Unique, and we are aggressively pursuing it."
Unique's proprietary TwinShape technology utilizes twin sheet vacuum-formed lightweight polyolefin foam material to produce an innovative solution that is 80% lighter and more efficient than blow-molded polypropylene and high-density polyethylene ducts that have been traditionally used by automotive manufacturers. TwinShape technology provides increased HVAC and NVH performance, providing an attractive value proposition to the market.
To learn more about the TwinShape technology and other products offered by Unique Fabricating, please contact Brad Hazen at 248-497-3268 or via email at [email protected].
About Unique Fabricating, Inc.
Unique Fabricating, Inc. (NYSE MKT: UFAB) engineers and manufactures components for customers in the automotive and industrial appliance market. The Company's solutions are comprised of multi-material foam, rubber, and plastic components and utilized in noise, vibration and harshness (NVH) management, acoustical management, water and air sealing, decorative and other functional applications. Unique leverages proprietary manufacturing processes including die cutting, thermoforming, compression molding, fusion molding, and reaction injection molding to manufacture a wide range of products including air management products, heating ventilating and air conditioning (HVAC) components, seals, fender stuffers, air ducts, acoustical insulation, door water shields, gas tank pads, light gaskets, topper pads, mirror gaskets and glove box liners. The Company is headquartered in Auburn Hills, Michigan. For more information, visit http://www.uniquefab.com/.
Safe Harbor Statement
Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements, as defined in the Private Securities Litigation Reform Act of 1995 that are subject to risks and uncertainties. Forward-looking statements relate to future events or to future financial performance and involve known and unknown risks, uncertainties, and other factors that may cause the Company's or the Company's industry's actual results, levels of activity, performance or achievements including statements relating to the Company's 2016 Outlook to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by this press release. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimates," "outlook," and similar expressions are used to identify these forward looking statements. Such forward-looking statements include statements regarding, among other things, our expectations about revenue, EBITDA, and earnings per share. All such forward-looking statements are based on management's present expectations and are subject to certain factors, risks and uncertainties that may cause actual results, outcome of events, timing and performance to differ materially from those expressed or implied by such statements. These risks and uncertainties include, but are not limited to, those discussed in our Annual Report on Form 10-K, for the year ended January 3, 2016 filed with the Securities and Exchange Commission pursuant to Rule 424(b) and in particular the Section entitled "Risk Factors" in the Annual Report on Form 10-K, as well as any updates to those risk factors filed from time to time in our periodic and current reports filed with the Securities and Exchange Commission. All statements contained in this press release are made as of the date of this press release, and Unique Fabricating does not intend to update this information, unless required by law. Reference to the Company's website above does not constitute incorporation of any of the information thereon into this press release.
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SOURCE Unique Fabricating, Inc.