May 26, 2009 (FinancialWire) — ATC Technology Corp. (NASDAQ: ATAC) said it has received verbal indication from Honda of its intention to in-source the remanufacturing of automatic transmissions as early as year-end.

The remanufacturing of automatic transmissions for Honda accounted for approximately $52 million of ATC’s 2008 revenues (approximately 10% of company revenues and 29% of Drivetrain segment revenues).

Todd R. Peters, president and CEO said “Of course we are very disappointed that we will no longer be remanufacturing automatic transmissions for Honda. Honda has been a valued customer since 2002 and we expect to provide other services to them in the future.”

As a result of this development, ATC is withdrawing its guidance for 2009 until it can assess the impact on its operations.

ATC Technology Corp. is headquartered in Downers Grove, Illinois.

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