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Commercial Vehicle Group Selected as Standard Seat for Hino Trucks
NEW ALBANY, Ohio, March 23, 2010 /PRNewswire via COMTEX/ -- Commercial Vehicle Group, Inc. (Nasdaq: CVGI) announced today that its National Seating brand has been selected by Hino Motors Manufacturing USA (HMM), a Toyota Group Company, as the seat supplier of choice for Hino's North American produced medium-duty trucks. Under the new agreement, CVG will provide both suspension and static seats for Hino products.

The new Hino seating program is scheduled to begin production during the first quarter 2011 at CVG's facility in Vonore, Tennessee. At current production levels, revenues related to this program are anticipated to be in the range of two to three million dollars annually.

Mervin Dunn, President and Chief Executive Officer for Commercial Vehicle Group, said, "We are pleased Hino Motors Manufacturing has chosen CVG as their supplier of choice for seating in its North America products. This is a testament to the quality and value of our National Seating products. HMM is recognized as one of the fastest growing medium-duty truck manufacturers in North America, and we are proud of our association with them and the opportunity to be a standard position product on their vehicles."

Gordon Boyd, President of Seating for CVG, stated, "Hino's award of its seating business to CVG presents the opportunity for us to grow with HMM. Going forward, we welcome the chance to supply a wide range of products for their truck and bus seating on a domestic and global basis. We look forward to a long and successful relationship with Hino Motors Manufacturing."

About Commercial Vehicle Group, Inc.

Commercial Vehicle Group is a leading supplier of fully integrated system solutions for the global commercial vehicle market, including the heavy-duty truck market, the construction and agriculture markets and the specialty and military transportation markets. The Company's products include static and suspension seat systems, electronic wire harness assemblies, controls and switches, structures and components, interior trim systems (including instrument panels, door panels, headliners, cabinetry and floor systems), mirrors and wiper systems specifically designed for applications in commercial vehicles. The Company is headquartered in New Albany, OH with operations throughout North America, Europe and Asia. Information about the Company and its products is available on the internet at www.cvgrp.com.

Forward-Looking Statements

This press release contains forward-looking statements that are subject to risks and uncertainties. These statements often include words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," or similar expressions. In particular, this press release may contain forward-looking statements about Company estimates for future periods with respect to production schedule and anticipated revenues. These statements are based on certain assumptions that the Company has made in light of its experience in the industry as well as its perspective on historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. Actual results may differ materially from the anticipated results because of certain risks and uncertainties, including but not limited to: (i) general economic or business conditions affecting the markets in which the Company serves; (ii) the Company's ability to develop or successfully introduce new products; (iii) risks associated with conducting business in foreign countries and currencies; (iv) increased competition in the heavy-duty truck market; (v) the impact of changes in governmental regulations on the Company's customers or on its business; (vi) the loss of business from a major customer or the discontinuation of particular commercial vehicle platforms; (vii) the Company's ability to obtain future financing due to changes in the lending markets or its financial position; and (viii) various other risks as outlined under the heading "Risk Factors" in the Company's Annual Report on Form 10-K for fiscal year ending December 31, 2009. There can be no assurance that statements made in this press release relating to future events will be achieved. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results over time. All subsequent written and oral forward-looking statements attributable to the Company or persons acting on behalf of the Company are expressly qualified in their entirety by such cautionary statements.

SOURCE Commercial Vehicle Group, Inc.

 
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