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Intier Automotive Nets $148.3M for 2004
NEWMARKET, Ontario -- Intier Automotive Inc. today reported net income from continuing operations of $148.3 million for 2004 as North American production sales grew to $839.5 million in the fourth quarter compared with $795.8 million a year earlier. North American average dollar content per vehicle increased to $222 for the fourth quarter from $204 in the year-ago period in part as a result of sales from new products.For the fourth quarter, net income from continuing operations was $49.2 million for fourth quarter. Sales increased to $1,406.5 million compared to $1,402.7 million for the three month period ended Dec. 31, 2003. New products that contributed to this increase included the complete seats for the new Chevrolet Cobalt, manufactured at the General Motors Assembly Plant in Lordstown, Ohio, as well as for the Pontiac Pursuit, the interior integration, overhead system, instrument panel and door panels for the Cadillac STS, the complete seats for the Mercury Mariner and the complete seats, instrument panel and overhead system for the Chevrolet Equinox, officials said.Intier directly supplies most of the major automobile manufacturers in the world and employs approximately 24,100 at 74 manufacturing facilities and 15 product development, engineering and testing centers in North America, Europe, Brazil and Asia Pacific. The company's top five customers, based on consolidated 2004 sales, are DaimlerChrysler (24%), Ford (22%), General Motors (20%), BMW (10%) and Volkswagen (6%).Visit Intier Automotive Inc.: www.intier.com"