Dana Corp., which makes auto parts, is said to be Sypris' largest customer, having purchased more than $120 million in parts in 2005.
The company filed for Chapter 11
bankruptcy protection in March, however, and Sypris
was seeking for the court to order Dana to render a decision on whether to keep the
supply contracts by Oct. 3.
According to the ruling, by contract Sypris can prevent Dana from buying those parts from another
manufacturer through 2014.
Moshe Handelsman, founder of Advanced Forecasting, told an industry forum last week that the industry is in for its first downturn since 2004. However, he declined to attach hard numbers to his prediction.