NEW YORK, Jan 29 (Reuters) - Auto parts supplier Noble International Ltd , said on Thursday it hired a financial adviser to help it conduct a review of strategic alternatives.
The company's shares were down more than 8 percent as it said it may seek to do a transaction while it evaluates alternatives. It hired Houlihan Lokey Howard & Zukin to help it conduct the review.
Noble replaced its chief executive in July, and in March slashed its 2008 forecast, citing a decrease in North American vehicle production, increased pricing pressure in Europe and higher-than-expected costs from its 2007 purchase of steelmaker ArcelorMittal SA's tailored blank laser-welding operations.
ArcelorMittal had a 63.5 percent stake in the company, according to a U.S. SEC filing in April.
Noble shares, which are down about 97 percent year-to-date, were trading down three cents, or 8.33 percent, at 33 cents a share on the Nasdaq on Thursday. (Reporting by Emily Chasan, editing by Dave Zimmerman)