SAF Holland bei 1,75 kaufen ??

Scania erhält Auftrag über 1.000 Lastwagen aus Großbritannien
dpaafx

         o Drucken

   *
     Firmen:
         o Scania AB
   *
     Themen:
         o International

Mittwoch, 27. Januar 2010, um 11:35 CET

SÖDERTÄLJE (dpa-AFX) - Der schwedische Nutzfahrzeughersteller Scania hat den größten Auftrag seiner Unternehmensgeschichte in Großbritannien erhalten. Die Volkswagen -Tochter beliefert zwei britische Transportunternehmen mit insgesamt 1.000 Fahrzeugen, wie das Unternehmen am Mittwoch in Södertälje mitteilte. Die Auslieferungen sollen im März beginnen. In Großbritannien kommt Scania (Stockholm: SCVB.ST - Nachrichten) den Angaben zufolge bei schweren Lastwagen auf einen Marktanteil von fast 16 Prozent.  

Volvo trucks increases production
Wednesday, January 27th, 2010
In recent months Volvo Trucks has seen positive signs of increased demand from its customers, albeit from a very low level, but now thanks to a successful reduction in its new truck inventory, the production of new vehicles will now be increased.

?The market situation is still uncertain, but we see signs of recovery in terms of trucks,? says Volvo Trucks President and CEO, Staffan Jufors, adding ?To meet the demand, we are now expanding the capacity in some of our factories.?

The increased production means fewer lay-off days at the Gent assembly plant in Belgium and for the Swedish factories in Umeå and Tuve; it means more work on Fridays.

Umeå, which supplies many Volvo Truck factories with cabs, will re-employ staff to manage the overall production needs. The Gent factory will increase the staffing in the cab-trim to be in phase with the capacity of the final assembly. At the same time the factory in Curitiba in Brazil levels up one shift.

?Since the economy remains highly uncertain, it is at this stage a question of short-term contracts,? says Staffan Jufors.

?It is very pleasing that we see a recovery, but we must also be well aware that the economy is very uncertain and that the volume increases are from very low levels. We are acting in a very tough competitive market situation, which means that we must continue to focus on our costs and remain aware of the uncertainty of the situation and act accordingly,? Staffan concludes.  

http://www.finanznachrichten.de/...29-dgap-dd-saf-holland-s-a-016.htm

Hier noch etwas:

1) Paccar (Hersteller von DAF trucks) wird ma Freitag Zahlen melden. Vorab kam schon heraus, dass der LKW Absatz im letzten Quartal erheblich besser lief als in den Vorgängerquartalen!

2) Celadon und Arkansas Best (zwei der größten LKW Spediteure der USA) mit zum Teil mehr als 15.000 trucks haben im letzten Quartal erhebliches Frachtvolumenplus ausweisen können.

Kommt bald auch auf die LKW Zulieferer zu :-)

SAF goes nord....  

Langdons buys 10 Schmitz Cargobull trailers
28 January 2010

Temperature-controlled specialist Langdons has upgraded its trailer fleet with the purchase of 10 dual-compartment trailers from Schmitz Cargobull.

The acquisition follows the opening of Langdons eighth depot in Dodworth, South Yorkshire, on Monday which sees  the company service its customers in Yorkshire and the North-East without the aid of a subcontractor.

The trailers will take 26 pallets and can be used for either frozen or chilled goods.

Graham Millard, Langdons fleet engineer, says a need to reduce running costs was a significant factor in the trailer purchase.

"Having assessed other models on the market, we were impressed not only by the build quality of the Schmitz Cargobull product, but by the weight advantages that the trailers offer," Millard explains. "Our new vehicles are robust and lightweight, which contributes to fuel savings."  

Trailer Price Rises Inevitable, Schmitz Says

Jan 26, 2010 2:08 PM

Despite signs of life in market conditions, leading trailer maker Schmitz Cargobull warns that trailer prices are likely to rise across Europe in the coming months, according to Transport News Brief.

The firm says aluminum, plastics and oil are among raw materials whose costs are spiraling.  While Schmitz says it has sought to absorb these increases by making efficiencies, "a point has been reached" where "some price adjustment" is inevitable.

Though there are signs that the transport market is recovering and demand for new vehicles is returning, Schmitz says an increase in the list prices of its new Cargobull curtainsided and refrigerated trailers may come in the second quarter of 2010.  

Eddie Stobart invests in Schmitz Cargobull reefers
This Asset was added from the webservice
26 January 2010

Eddie Stobart has taken delivery of a further 30 Schmitz Cargobull refrigerated trailers to add to the 250 reefer trailers it bought this time last year.

Stuart Smith, fleet engineer at Eddie Stobart, says: "These new trailers will allow us to better service our main supermarket accounts in the time-efficient manner they expect.

"Schmitz  Cargobull's trailers are manufactured to the high standard that Stobart works to and were the obvious choice when it came to expanding our fleet. Their efficiency and flexibility will help streamline the delivery process."

The firm says that the new trailers have been bought to meet growing demand, particularly in Stobart's internaional division that operates a network of cross-docking facilities throughout the UK. The new trailers take the number of refrigerated trailer units in Stobart's current fleet to 300.  

SAF Holland Unveils Trailer Axle Plant
Jan 28, 2010 2:01 PM

SAF Holland officially announced the opening of its trailer axle manufacturing plant in Warrenton, Missouri.

The $4-million, 100,000-sq-ft plant has a capacity of 80,000 trailer axles per year.   It is the company?s latest step in integrating not only trailer components, but also disparate global markets, technologies, and the SAF and Holland areas of specialization.

Offering only drum brakes at this point, the plant will gear up for production of axles equipped with disc brakes as well.  The company anticipates that disc brakes will become increasingly popular on trailers as economies of scale lower production costs and customers recognize reduced operating costs of disc brakes offset their higher purchase price and higher resale value.

Integrating trailer components such as axles, brakes, and suspensions will become more common in North America, the company believes.  

?European trailer manufacturers want single-source supply, and SAF did not have that until the SAF and Holland merger,? says Steffen Schewerda, executive vice-president.  ?Trailer OEMs require various levels of integration and customization to meet their specific needs. As a result, they require a partner that can provide customized integrated systems.?

Prior to the merger, SAF was strong in axle manufacturing, while Holland lacked its own axle but was strong in the production of trailer suspensions.  The Warrenton plant incorporates SAF axle manufacturing technology.  Meanwhile, SAF Holland operations in North American are exporting its expertise in landing gear, fifth wheels, suspensions, and other components.  

Job Order Number: 2856801   Job last updated: January 22, 2010
  Company name: SAF-HOLLAND USA, INC.
  Job title: Wire Welders
  Job type: Full Time
  Hours per week: 40
  Job(s) available: 6
  Job location: Muskegon
  Salary: $ 12.88 per hour.
  Benefits: dental insurance, life insurance, medical insurance, optical insurance, paid sick leave, paid vacation, 401(k)
  Other Benefit: paid holidays
  Job description: Performs the following duties: read work orders and blueprints to determine operation, parts and tools needed; select equipment and plan layout, assembly and welding; layout, position, align and fit components together; bolt, clamp and tack-weld parts to secure in position for welding; set-up equipment and weld parts, using arc, gas-shielded arc or gas welding equipment; repair products by dismantling, straightening, reshaping and reassembling parts; utilize hoist to move material; record production in computer; transfer inventory in computer. Responsible for complying with all company policies, procedures, values, ethics and rules.
  Job requirements: This job requires a high school diploma and 1 year of experience.
  Specific requirements: This job has some special requirements. You must possess a private drivers license, undergo drug screening, pass an employment test, pass a physical examination and undergo a reference or security check.
  Additional requirements: Applicants are required to take SAF Holland's welding test and WorkKeys Assessment.
  Directions to business: Applications are being accepted Monday through Friday, 8:00 am to 5:00 pm at Goodwill Workforce Development Center, 950 W. Norton Avenue, Muskegon, MI 49441. SAF Holland will not accept phone calls relating to positions. All inquiries are to be directed to Goodwill WDC. SAF Holland is an EOE.
Please apply by person .
Contact: L. FURLOUGH Business name: SAF-HOLLAND USA, INC.
Phone: (231)739-9010 Ext: 225 Address: 950 W. Norton Avenue
Fax: (231)830-0005   Muskegon, MI 49441
Email:  


Click to return to previous page.  

nicht das,daß genau wie hier abläuft vorher teure raus und billige rein  

Troy-based ArvinMeritor breaks even, sees better year ahead
Troy auto supplier attributes results to restructuring efforts
Alisa Priddle / The Detroit News

ArvinMeritor Inc. began its new fiscal year with breakeven earnings and optimism that the worst is behind the Troy-based supplier.

"We are well-positioned to perform well in the year ahead," Chief Executive Chip McClure said Tuesday as the supplier reported it had exceeded expectations by breaking even on net income.

The results compare to a prior-year loss of $961 million or 65 cents per share for the same period last year. The improvement was attributed to the company's restructuring efforts.

Advertisement

McClure said ArvinMeritor achieved its targeted cost savings over the past year by streamlining operations, which enabled it to restore salary levels that were previously cut. The company also is working to refinance its revolving credit facility by June.

Revenue declined just over 6 percent to $1.1 billion but sales were up 16 percent from the prior quarter. McClure said he expects the next quarter to remain flat.

The supplier expects to sell the last operations of its light vehicle side of the business this year as it continues to reinvent itself as a commercial vehicle supplier of axles and braking and suspension systems.

Last year, ArvinMeritor sold its wheel business to a Brazilian company for $180 million.

On Monday, ArvinMeritor announced plans to invest $10 million in a joint venture in China to increase annual axle production more than 20 percent to expand its off-highway market and take advantage of China's demand for construction machinery.

McClure said a slight improvement in the performance of the light vehicle unit could make it easier to sell the body division.

He said there is a "significant level of interest in it by global players."

On the commercial vehicle side, ArvinMeritor last year secured new contracts to supply axles to Navistar, Chinese bus company Yutong Group Co. Ltd., and a multi-year agreement with Daimler Trucks North America.

From The Detroit News: http://www.detnews.com/article/20100203/AUTO01/...ahead#ixzz0eSWNGVf8  

in 2010!!!

Volvo gets order for 370 trucks
The Business Journal of the Greater Triad Area

   * Print
   * Email
   * Reprints
   * RSS Feeds
   * LinkedIn
   * Share
   *
     Comments

Send this story to a friend
Email address of friend (insert comma between multiple addresses): Your email address: Add a brief note:

Enter words from the security image above:

Get new image | Image verificationAudio verification | reCAPTCHA?
Other Matching Articles for
" Volvo trucks "

   * Volvo gets order for 370 trucks [02/02/2010]
   * Volvo offers rebate for owner operators [01/19/2010]
   * Mack, Volvo engines certified by EPA [11/17/2009]
   * > More Search Results

Volvo Trucks North America has received an order for 370 of its Volvo VN trucks.

Volvo Trucks announced this week that Phoenix-based Knight Transportation had ordered the trucks, which have selective catalytic reduction emission control technology. Such a system results in near-zero emissions and meets the Environmental Protection Agency?s 2010 regulations, without using stockpiled emissions credits, and improves fuel economy by up to 5 percent.

Volvo will start delivering the trucks by April. Knight will use the vehicles throughout its fleet.

Volvo Trucks North America and its sister company, Mack Trucks, are both headquartered in Greensboro and are part of the Sweden-based Volvo Group. The company is traded on the NASDAQ OMX Nordic Exchange and is traded OTC (over the counter) in the U.S.  

Delphi recruits again after year-long pay cut
Delhi Volvo truck
Delphi's Stonehouse site supplies parts for Volvo Trucks

An engineering company which cut wages by 10% last year due to the economic downturn, is seeking new apprentices.

Workers at Delphi Diesel Systems in Stonehouse, Gloucestershire, agreed to the pay reduction in order to save their jobs.

The business, which supplies parts for Volvo, is holding an apprentice open day to attract new recruits.

Training officer Chris Tanner said there was renewed confidence in the manufacturing sector.

"Last year was probably our toughest year, but we got through it," he said.

"Things are going to gradually improve. We have plenty of orders and we need to home grow the skills and the talent and that's what we're doing."

Volvo Trucks saw a 99% drop in demand in 2008, w  

Es geht wieder aufwärts!

STOCKHOLM (Dow Jones)--Swedish truck maker Scania AB (SCV-A.SK) Wednesday said it is continuing to adjust its capacity, costs and capital spending, as it reported a better-than-expected profit in the fourth quarter.

"In the truck market the fall in demand has flattened out at a low level," Chief Executive Leif Oestling said.

Meanwhile, Scania's orders for trucks and buses in the quarter ended Dec. 31 jumped to 13,884 vehicles from 2,423 a year ago when the economic downturn impacted the business.  

Wo hast du eigentlich die ganzen detailierten Informationen her? Ich jedenfalls lese sie immer mit großem Interesse, denn das erspart mir zumindestens selber recherchieren zu müssen. Vielen Dank.  

gggg  

1) Volvo erhält weiteren Großauftrag aus Mexiko! Mehrere hundert Busse werden geordert!

2) Daimler/Freigthliner erhält Auftrag über 75 LKW

3) Der sträkere Dollar wird sich positiv auf die Q1 Zahlen von SAF auswirken. Allein hieraus werden wir knapp 10% mehr Umsatz in Euro erwirtschaften. Bei steigendem US Geschäft sogar noch mehr!

4) Die vorgenommenen Abschreibungen könnten in naher Zukunft ggf. schon wieder zugeschrieben werden. Bilmog/IFRS sei dank :-)  

1) Nomura hebt Volvo auf "Buy", da sich die USA und die Schwellenländer besser als erwartet entwickeln! PS: Morgen kommen die Zahlen :-)

2) Sal. Oppenheim - die auch SAF auf dem Radar haben - hat MAN hochgestuft. Die Auftragseingänge wären besser als erwartet

3) Scania überraschte positiv!  

Hallo Bio....

Bin sonst bei Wallstreet gewesen ,aber deinetwegen gewechselt denn du scheinst oft schneller zu sein als ich...bist ja wohl ebenfalls bei Saf investiert zu sein ...Warum Kaufst denn dann nicht auch ab und an Kassa ohne Limit(Miniorder reichen so um die 50 stck) um den Wert oben zu halten???Scheint dem anderen oft in andere Richtung zu gelingen .

Habe es jetzt selbst schon 3 mal gemacht aber jetzt kaum noch Geld und bei Wallstreet zieht keiner mit.

 Da frag ich mich eh ob die überh nen Plan haben ??

Danke ebenfalls für die schnellen Infos.

Verstehe allerdings net warum wir hier noch so rumtümpeln???Und so wenig Volumen drin ist???Ist doch zur Zeit nen Schnäppchen???

 

Hier ein paar Infos:

1) Großauftrag - Der Autobauer Daimler hat einen Auftrag über 700 Transporter aus Großbritannien bekommen. Die Auslieferung der Fahrzeuge des Modells Sprinter solle im Mai starten, teilte das Unternehmen am Mittwoch in Stuttgart mit. Bestellt wurden die in Deutschland gefertigten Fahrzeuge vom Dienstleister für Versorger Balfour Beatty Utility Solutions (BBUS) mit Sitz in Sheffield. Zum Auftragsvolumen wollte sich Daimler nicht äußern. (dpa)

2) Daimler To Increase Stake In Russia's Kamaz-Sources



You must login or register in order to recommend this.

ShareThis | Respond to Editor | Print

By Christoph Rauwald
Dow Jones Newswires



(Adds detail).

FRANKFURT -(Dow Jones)- The world's largest truck maker by sales, Daimler AG (DAI, DAI.XE), is close to increasing its 10% stake in Russian peer Kamaz (KMAZ.RS), people in the industry told Dow Jones Newswires on Wednesday.

An announcement on the deal could be made on Thursday, these people said.

Daimler chief executive officer Dieter Zetsche said in Detroit in January that talks with Russian investment bank Troika Dialog over a share sale are ongoing.

A decision might be reached "in some weeks," Zetsche said at the time, noting that Troika initiated the talks and that Daimler has an exclusive right to acquire these shares.

He declined to elaborate further at the time, but stressed that the tie-up with Kamaz is aimed at a long-term alliance.

While cutting costs in major markets such as North America and Japan, Daimler is seeking to ramp up its presence in emerging markets such as China, Russia and India to benefit from their growth potential.

Last year, the board of China's Beiqi Foton Motor Co. (600166.SH) approved plans for a 50-50 truck and engine joint venture with Daimler, with a total investment of around CNY6.35 billion ($928.5 million).

In India, however, Daimler's plans hit a bump in the road last month as its joint-venture partner Hero Group decided to pull out of the venture due to market weakness.

Daimler Trucks is the world's largest producer of commercial vehicles by sales and comprises the Mercedes-Benz, Freightliner, Mitsubishi Fuso and Western Star brands. The division sold 472,100 vehicles in 2008 and posted revenue of EUR28.6 billion.

3) 2/10/2010  Trailer Bridge Reports Strong Fourth Quarter

Florida-based Trailer Bridge seemed to come out of the fourth quarter of 2009 in a stronger position than most carriers, with operating income, earnings and net income all up during the period. The carrier attributes the performance to its high capacity utilization.

For the fourth quarter, operating income was up 148 percent to $3.6 million, in contrast to operating income of $1.4 million in the year-ago quarter. Net income improved by $2.1 million to $1 million, or 8 cents a share, during the quarter. This compares with a net loss of $1.1 million, or 9 cents a share, during the prior-year period. The company says the $1 million net income includes $690,000 in severance payments as part of a reduction in its workforce and $676,000 in legal and related expenses in connection with an ongoing investigation by the Department of Justice.

Earnings before interest, taxes, depreciation and amortization, or EBITDA, was $5.2 million, a 72.1 percent boost from the year ago period's $3 million.

The shipping company posted revenue of $30.7 million, a 7.7 percent drop from the prior year but an increase of 1.3 percent from the third quarter of 2009.

"We saw continued high capacity utilization in the quarter with the exception of the seasonally slower last week of the year," said Ivy Suter, Trailer Bridge's CEO. "We expect capacity utilization to remain high in the first quarter of 2010 and beyond based on what we're seeing in January.

"We are pleased that our system has performed well in a difficult economic climate, and we are seeing a continuing stream of new customers that are taking advantage of our value proposition," Suter added.

4)  

einiges besser als Q3 und auf EBIT Basis gut positiv und auf EBT sogar auch.

Hier etwas interessantes:

European Trailer Market Should Be Up 30% in 2010

Feb 11, 2010 3:40 PM

Consulting group CLEAR forecasts a 30% increase in European trailer demand in 2010, along with a 45% increase in production.

?We have seen an unprecedented decline in the demand for transport at the same time as Europe was stuffed with nearly new trailers,? said Gary Beecroft, managing director of CLEAR. ?This combination has proved disastrous for the industry. However, I expect a 30% increase in demand in 2010 and a 45% increase in production.

?Normally such increases would be an excuse for champagne all round.  But we are starting from such a low base that in terms of numbers of trailers, the figures are not that impressive. In Germany in particular, Europe?s largest market, demand will be held back by the oversupply of trailers in 2007-2008.?

A recovery in investment is forecast in most West European economies in the last quarter of 2010. Trailer demand is usually a leading indicator, so Beecroft said a recovery should start about six months earlier.

The last severe downturn in the heavy goods trailer market was in 1993, but he said this one has been worse. In 1992-93, the demand for trailers fell by 31%, or 37,000 trailers.  In 2008-09, the fall was 50%, or 104,000 trailers.

Back in 1993, the peak demand for trailers before the downturn was 120,000 units.  This time the market reached 208,000 in 2007 but fell to 104,000 in 2009.

Before 1993, peak trailer production was 126,000 per annum, but in 2007 production reached 292,000, which was forecast to fall to 102,000 in 2009, a fall of 65% or 190,000 trailers.  The reason the fall in production is so much larger than the fall in registrations is that the East European markets have collapsed as trailer finance dried up, killing export demand.  As well as the huge drop in demand in Western Europe, there were an enormous number of unsold new trailers to be cleared away before production could be come back into line with demand.  

hab mir mal die tage erste stücke gesichert ...  

Hier mal mein Tipp:

Umsatz Q4: 120 Mio. ?
EBIT Q4: 4 Mio. ?

Die vorläufigen Zahlen kommen wohl nächste Woche!  

Es dauert nicht mehr lange! Hier geht es bald ab.  

German truck maker MAN aims to boost China sales by 40%

Feb. 18, 2010 (China Knowledge) - Germany-based truck manufacturer MAN SE hopes to see its heavy-duty truck sales in China increase by 40% in 2010 and to grow its market share in the country's premium heavy truck market in the next few years, the China Daily reported, citing the company president as saying.

MAN last year accounted for 75% of the 5,000 heavy-duty trucks imported and sold in China, and the good sales performance boosted its market share in the country, said the English-language newspaper.

Because there is immense untapped potential, the company is confident that it can grow its market share in China even more in the next few years, said Benny Lim, president of MAN Truck and Bus (China) Ltd.

In October, MAN bought a 25% stake in Sinotruk (Hong Kong) Ltd<3808>, the Hong Kong-listed arm of China's largest heavy truck manufacturer, China National Heavy Duty Truck Group.

The deal was intended to extend MAN's presence outside its core European market, especially in the BRIC countries, Brazil, Russia, India and China, where demand for transportation may grow in the long term along with a revival in economy, China Knowledge reported earlier.


Commercial Vehicle Group Announces Fourth Quarter and Full Year 2009 Operating Results

NEW ALBANY, Ohio, Feb. 17 /PRNewswire-FirstCall/ -- Commercial Vehicle Group, Inc. (Nasdaq: CVGI) today reported revenues of $135.7 million for the fourth quarter, compared to $164.4 million for the prior year period.  Operating loss for the fourth quarter was ($41.2) million and net loss was ($23.7) million, or ($1.08) per diluted share, for the same period.  Fully diluted shares outstanding for the quarter were 22.0 million.  Included in the Company's results is a non-cash expense of approximately $37.0 million related to the impairment of certain tangible and intangible assets.  The Company also recorded restructuring charges of approximately $1.5 million relating to the closure and consolidation of one of its facilities located in Liberec, Czech Republic and approximately $0.2 million of employee related expenses for the closure of its Norwalk, Ohio truck cab assembly facility.

The Company also reported a tax benefit of approximately $17.4 million during the fourth quarter and $16.3 million for the year ending December 31, 2009.  The Company remains subject to ongoing valuation allowances required under ASC 740; however, the benefit recorded during the period is primarily attributable to tax legislation passed during the fourth quarter 2009 allowing for the Company's 2009 tax losses to be carried back for a period of five years.  The Company estimates it will receive a tax refund as a result of this legislation in the range of $18 to $21 million during the second quarter of 2010.  

"Our fourth quarter was fairly strong in comparison to the first three quarters of 2009.  Excluding the non-cash impairments and restructuring charges, our operating performance was essentially flat to the fourth quarter of 2008 with substantially less revenues," said Mervin Dunn, President and Chief Executive Officer of Commercial Vehicle Group.  "This is due in large part to the cost cutting measures and manufacturing realignment actions we took throughout the year, and we are optimistic about the continued impact of these actions into 2010 and beyond," added Mr. Dunn.

Revenues for the quarter compared to the prior-year period decreased by approximately $28.7 million, due primarily to the decrease in both the North American Class 8 heavy truck market and the global construction market.  Operating loss for the fourth quarter of 2009 was ($41.2) million compared to ($209.7) million for the prior year period.  Operating loss for the fourth quarter of 2009 included $37.0 million of charges related to the impairment of certain tangible and intangible assets and $1.7 million of restructuring charges.  Operating loss for the prior year quarter included $207.5 million of charges related to the intangible asset impairment for the prior year period.  Excluding the non-cash impairments and restructuring charges, the Company's operating loss for the fourth quarter increased approximately $0.4 million compared to the prior year period on $28.7 million less revenues.  Net loss for the quarter ended December 31, 2009, was ($23.7) million, or ($1.08) per diluted share, compared to net loss of ($207.7) million, or ($9.57) per diluted share, in the prior year period.    

Revenues for the year ended December 31, 2009 compared to the prior-year period decreased by approximately $304.9 million, due primarily to the decrease in the North American Class 8 heavy truck market, the global construction market and general global economic conditions in many of the Company's key end markets.  Operating loss for the twelve-month period was ($89.7) million compared to ($191.4) million last year.  Net loss for the twelve-month period was ($81.5) million, or ($3.74) per diluted share, compared to net loss of ($206.8) million, or ($9.58) per diluted share, in the prior twelve-month period.  Included in the Company's full-year results for 2009 and 2008 are non-cash expenses of approximately $47.4 million and $207.5 million, respectively, related to the impairment of certain tangible and intangible assets.  Also included in the Company's twelve-month results for 2009 are restructuring charges of approximately $3.7 million.  

Net debt (calculated as total debt less cash and cash equivalents) was $151.2 million at December 31, 2009, as compared to $157.6 million at December 31, 2008.  The Company did not have any outstanding borrowings under its asset-based revolver at December 31, 2009 and, as a result, was not subject to any financial maintenance covenants as of December 31, 2009.  The Company does not expect to trigger the requirement to comply with financial maintenance covenants in 2010 under the revised debt structure which was put into place in August 2009.