Word that Collins & Aikman Corp. will supply much of the interior for the 2006 Ford Futura sedan could not have come at a better time for CEO David Stockman.
Anxiety about Collins & Aikman's future surged last month over a report that the Chrysler group - Collins & Aikman's No. 1 customer - is seeking bids from other companies on $1 billion of the supplier's business.
The Futura contract, announced Oct. 10, bolstered Collins & Aikman's outlook. The deal means that $1,000 worth of content from Collins & Aikman and its suppliers will be installed on each of up to 300,000 Ford Motor Co. vehicles.
That translates into more than $2 billion in revenue over the life of a typical contract. It also could pave the way for future business with the No. 2 automaker because the Futura platform will be the base for as many as 10 new Ford Motor Co. models.
"The Ford contract is justification that our strategy of a full-service supplier is a sound one," Stockman says.