Tough Times at ATC Technology

ATC Technology (ATAC - Analyst Report) is in the process of winding down its Honda (HMC - Analyst Report) automatic transmission remanufacturing program by the end of 2009. Honda has moved the remanufacturing of its units in house.

ATAC said it now expects 2009 drive-train revenue between $140 million and $144 million, with Honda transmission revenue contributing between $32 million and $34 million. The drivetrain unit, which accounts for 30 percent of the company's total business, supplies aftermarket parts to principal customers including Chrysler and Ford (F - Analyst Report).