Question-and-Answer Session
Operator
(Operator instructions) Your first question comes from the line of Andrew DeAngelis of KeyBanc Capital Markets. Please proceed.
Andrew DeAngelis – KeyBanc Capital Markets
Good morning, guys.
Tom Burke
Good morning, Andy.
Andrew DeAngelis – KeyBanc Capital Markets
I guess first question here. Just wanted to get I guess your thoughts on the specific actions that you are taking to frame the company within your revised market outlook in addition to the restructuring actions you already have in place.
Tom Burke
Andrew, at a high level, we have clearly a clear list of levers and actions that we have in place and ready to take on that we have high confidence in. And we’re prepared to do what it takes to move that forward and getting the assumptions right. And paying attention to those is clearly going to be where our focus needs to be, and again we have that in place. The actions that Brad highlighted in a couple of his points moving forward (inaudible) under the four-point plan are clearly the actions we need to make sure we remain focused on.
Andrew DeAngelis – KeyBanc Capital Markets
But do you need to take any major additional restructuring move, specifically within Europe, to address your current market outlook?
Brad Richardson
Andrew, I mean, certainly and just to delve on Tom’s point, what we identified clearly is additional things that are under evaluation. Clearly our additional closures, plant closures, and that could involve Europe. As you know, we have one plant being closed in Europe and there is the potential for an additional closure in Europe. So that’s certainly, as Tom mentioned, is part of what we’re looking at in light of the downturn that we are seeing. We also – on the portfolio side, as I mentioned, we have announced the exit of the vehicular HVAC assembly business in Korea and we are looking at our other businesses that are dedicated to that form of product and market. And then the SG&A side, clearly that’s something that we’ve got to really continue to focus on and are focused on to control that element of our business globally.
Andrew DeAngelis – KeyBanc Capital Markets
Okay. I guess strategically within Europe, are you guys happy with your current footprint, just I guess the way it lays out your cost intensiveness? Obviously, the market conditions weigh in on how tactically that’s implemented, but I’m just wondering if something similar to what you guys have done in North America to scale the operations a little bit more perhaps needs to be done in Europe.
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