Noble Terminates Discussions Regarding Acquisition of
CD&L, Inc.
DETROIT, March 14 Noble International, Ltd. ("Noble")
announced today that it has terminated its acquisition
discussions with CD&L, Inc. ("CD&L"). Noble had executed a letter of intent
with CD&L on January 12, 2001. Upon completing its initial due diligence,
Noble and CD&L were renegotiating certain terms of the acquisition. Noble and
CD&L were unable to come to an agreement and the negotiations were terminated.
Speaking on behalf of Noble, Robert J. Skandalaris, Noble's Chairman and
Chief Executive Officer, stated, "We are impressed by the quality of CD&L's
senior management. Their commitment to the success of CD&L is evident.
Unfortunately, our review of CD&L identified certain issues which, upon
further negotiation, could not be satisfied in a mutually agreeable manner."