Risk Factors Update Summary
- Beginning in the second half of 2024 through 2026, the company will transition from existing to new programs with Volvo, a customer accounting for approximately 16% of 2023 total sales.
- Sales to five customers constituted approximately 68% of total sales in 2023, up from 64%.
- The company's exposure to highly cyclical markets increased, with approximately 52% of product sales in 2023.
- The percentage of the workforce represented by unions decreased from 69% to 67% in 2023.
- Cybersecurity incidents across industries are increasing, posing a threat to confidential information and operations.
- Fluctuations in foreign currency exchange rates may lead to losses for the company.
- Any prolonged work stoppage could adversely impact the company's financial condition and operations.
Full Text Changes in Most Recent 10-K
Intended use: review the highlighted statements. These are additions to the risk factors disclosure in the most recent 10-K filing compared to the previous 10-K filing. Deleted and moved text is less important and is shown for context.
To view the full company filings, click on the following link to be taken to the SEC EDGAR database landing page for the company: https://www.sec.gov/edgar/browse/?CIK=1026655&owner=exclude
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