Question-and-Answer Session
Operator
(Operator instructions) Your first question comes from Himanshu from JP Morgan.
Himanshu Patel – JP Morgan
First, Mike, the contribution margin on the loss strike related revenues, looks like that was about 30%, and it looks like the contribution margin on the non-strike related revenue decline was about 20%. Are those normal number we should use going forward?
Michael Simonte
Himanshu, this was anything but a normal quarter. I think that the contribution margins or the strike business which is of course centered in our US business in line generally with our expectations around 30%. Recall that we were ramping up our production in our Mexican operation so what you have there is a combination of a reduction in the U.S. business and an increase in the Mexican business. In the volumes that we ran and the overall decline in our non-strike related business you do see the benefit of the lower fixed cost structure and lower operating cost structure that we have in Mexico. So as we told you before, our attention is to reduce this variable contribution margin on the downside, back down to about 25% and I think what you're seeing there is a little bit of a glimpse into the future at a company that's a little bit more weighted towards cost competitive locations such as our Mexican operation.
Himanshu Patel – JP Morgan
Okay. And then do you have a sense of what sort of ballpark proceeds you could generate from asset sales?
Michael Simonte
Himanshu, we're not talking about businesses that are very significant portion of our business. Maybe aggregate sales somewhere in the 5% of total top line, and it's a little bit too early to speculate, but we do think that with all these asset sales be the book of business and the stabilizer bar, linkage area, for example, (inaudible) land and facilities that we have, and some other situations we're looking at, we probably had the opportunity to raise between $25 and $50 million over the next year. We may be able to exceed that, but to be realistic, that's what we think.
Himanshu Patel – JP Morgan
Okay. And then my last question on the liquidity. By year-end, how much of your revolver do you think you will have drawn down?
Michael Simonte
Himanshu, we have the cash resources on the balance sheet that we talked about certainly at the end of the first quarter we had this discussion, just on most of the cash outflows that we anticipate in the calendar year 2008, and of course, this is in mind with the financial assistance we expect to receive from GM. So the amount of revolver products that we're going to have is going to be dependent on a number of factors including working capital movements and what we're doing with our overseas activities. You know, I'm not going to make any significant comments relative to how much revolver products we're going to have today, but what I will tell you is that we would expect our total borrowings under the long-term fixed structure to fund most of our requirements in this calendar year.
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