Durakon Names Edward Gniewek as President and CEO- Congrats

LAPEER, Mich., Nov. 27 -- Durakon Industries, a leading manufacturer of cargo management, accessories and systems to the light truck market, today announced the appointment of Edward Gniewek as President and Chief Executive Officer, effective immediately. He also will become a member of the company's Board of Directors.

Mr. Gniewek joined Durakon earlier this year as Chief Operating Officer and has extensive experience working in the automotive sector. Prior to joining Durakon, he was with Johnson Controls' Automotive Systems Group for more than 10 years. He most recently served as General Manager of Trim Operations and Vice President and General Manager for the TechnoTrim, Inc. division, a leading supplier of automotive seat covers. During his tenure with Johnson Controls, Mr. Gniewek in 1986 helped launch the newly-formed TechnoTrim and subsequently worked in virtually all aspects of the company's operations, including opening new manufacturing facilities, instituting efficiency programs, enhancing quality initiatives and improving customer service. He also served as President and General Manager of Intertec Systems, a joint-venture company that manufactures automotive instrument panels.

Prior to serving with Johnson Controls, he was Director of Engineering, Research and Development for Allen Industries and was Engineering Unit Supervisor at Ford Motor Company's Plastic, Paint and Vinyl Division.

``Ed is a dynamic team leader with an outstanding record of running complex and successful enterprises in the automotive sector,'' said Angus Littlejohn, Chairman and Chief Executive Officer of Littlejohn & Co., a private investment firm based in Greenwich, Connecticut. ``Durakon is well positioned for future growth and we believe that his industry expertise and management skills will lead to profitable long-term success and that he will solidify the company's position as a key provider to original equipment manufacturers and aftermarket customers.''

Durakon was purchased in 1999 by an investment partnership managed by Littlejohn & Co. LLC.

A strong senior management team is in place to work with Mr. Gniewek. Reporting to him are Jim Smith, Chief Financial Officer; Leonard Damico, Vice President, OEM; and John Montagna, Vice President, Advanced Engineering. The company will announce in the near future the appointment to the new position of Vice President of Aftermarket Sales and Marketing.

Mr. Gniewek said, ``This move represents the next phase of Durakon's growth strategy and I am very excited about leading this company to the next level of profitable growth. I look forward to working with the entire management team at Durakon and the executives at Littlejohn to help us capitalize on the company's strengths.''

Mr. Gniewek succeeds William S. Wade, who most recently served as Chief Executive Officer of Durakon. Mr. Littlejohn said, ``The Board of Directors felt that new leadership was necessary for the company to achieve its full potential. We want to acknowledge Bill's contributions and wish him well in his new pursuits.''

Mr. Gniewek is a 1973 graduate of the Michigan Technological University and received his B.M.E. degree from the University of Detroit in 1975.

About Durakon

Durakon Industries is the world's leading supplier of pickup bed protection, and is a primary supplier of vehicle cargo control products and other accessory systems and components, both for OEM and aftermarket. Well-known Durakon brands include, Duraliner®, Bodygard(TM), AllStar(TM) and CargoPro(TM).

About Littlejohn

Littlejohn & Co., LLC is a private investment firm based in Greenwich, Connecticut that makes control equity investments in mid-sized companies which could benefit from a fundamental change in strategic direction, substantial improvement in operating infrastructure or a financial restructuring. Founded in 1996, the firm manages investment funds totaling $730 million.