Venture and Expert Launch Partnership

    FRASER, Mich.--June 15, 2001--Automotive suppliers Venture Industries (Fraser, MI) and Expert Corporation SL (Barcelona, Spain) have announced the formation of Venture-Expert Automotive Systems (VEAS), a joint venture company developed to supply front-end modules to the global automotive market.
    The announcement was made today by Mike Torakis, CEO of Peguform GmbH & Co KG (a wholly owned Venture subsidiary with 18 plants worldwide), and Vicente Bernad, CEO of Expert, during a brief signing ceremony in Barcelona. The new company, with headquarters in Barcelona and plants in Pamplona (Spain), Brussels (Belgium) and Mlada Boleslav (Czech Republic), is already producing modules for the European market.
    The two executives explained that the joint venture has been established for the worldwide development, manufacture, assembly, distribution and marketing of front-end modules. As a rule, these comprise the bumper, fan and radiator system, lighting and front-end carrier structure. "VEAS is thus positioned at the forefront of the trend among automakers toward purchasing complete modules from suppliers for cost and quality benefits," observed Larry Winget, Chairman and CEO of Venture Industries, who was also present at the signing. "It's also another confirmation of Venture's commitment to a truly global organization and strategy."

    Market Leader

    Though new, VEAS is already the leading front-end module producer in Europe, holding 39 percent of this growing market. The company is optimally positioned for expansion to other countries thanks to the global reach of its two founding firms.
    Vicente Bernad, CEO of Expert Automotive Corp., is thoroughly convinced that pooling the know-how of both companies will far exceed customer expectations. "Expert Automotive Corporation SL brings with it a wealth of expertise in module assembly, as well as in supply chain management -- right through to the end customer," he said. In its capacity as a producer of bumpers and front-end carrier structures, Venture subsidiary Peguform GmbH & Co KG possesses extensive knowledge and experience in the fields of crash and energy management, pedestrian protection, styling and finish.
    In addition, talks with potential partners are underway to ensure that VEAS can deploy complete in-house competencies for fan, radiator and lighting systems.

    Global Reach

    Venture Industries, headquartered in Fraser, Michigan, is a $2.4 billion global automotive supplier providing interior systems, cockpit modules, front-end systems, exterior trim as well as composite closure and body panels. The company delivers services that encompass advanced engineering, tooling, manufacturing, assembly, sequencing and logistics. Venture has more than 60 strategic facilities and alliances on five continents, forming the world's largest integrated automotive supply enterprise. Key customers include automakers in North America, Europe, Australia and Asia.

    Expert Automotive Corporation -- Dedicated to Service and Quality

    With sales of $900 million, the Expert group is a leading supplier of front-end modules, front-end support systems, fuel system components, and development services as well as production and welding systems. From product and process development, plant construction and component manufacture right up to logistics, Expert is well positioned for every project stage necessary for module application. As part of this service, Expert also sets up manufacturing systems in its customers' production facilities.

    Contact

    For additional information about Venture, please visit the company's website at: www.ventureindustries.com.
    European publications are urged to contact the following:

Marschner + Kuhn Neureuter Strasse 37a, D-76185 Karlsruhe, Germany Tel.: +49-721/973-16-35. Fax: +49-721/973-16-99 e-mail: nh@marschner-kuehn.de Please send two copies of any European articles to Marschner + Kuhn.

    Other inquiries should be directed to:

Liz Chimenti Venture Industries 6555 E. 15 Mile Road Sterling Heights, MI 48312 U.S. 810/276-1740 Fax: 810/276-1839