Charles G. Schroeder Acquires Dayton Wheel Products, Inc.

DAYTON, Ohio, Feb. 18 -- Dayton Wheel Products, Inc., manufacturer and restorer of high quality wire wheels, today announced its acquisition by automotive enthusiast Charles G. Schroeder. The company, which employs 43 people, has retained all current employees and expects employment will grow as new product and marketing programs are implemented. Dayton Wheel Products will continue operations from its Centerville, Ohio facility located at 115 Compark Road.

In business since 1916, Dayton Wheel Products completely manufactures its products in house -- from machining, grinding, welding and plating to assembly. Consumers purchase its products through retail specialty shops and automotive stores worldwide. The Dayton Wire Wheel name is the number one brand associated with quality wire wheels. 81% of consumers seeking wire wheels ask for Dayton Wire Wheels first, according to research conducted with distributors and dealers.

Schroeder says his philosophy, ``If you do what you love, you'll never work a day in your life,'' is his motivation for hanging up a successful 13-year career with The Reynolds and Reynolds Company to pursue an opportunity even more closely aligned with his passion for the automobile. His experience in marketing and product development, along with his relationships with individual dealers and state and national automotive associations, are assets he plans to utilize as he takes the helm of Dayton Wheel Products.

``Back when the company was created, the wire wheel represented progress. No more wooden wheels. Wire wheels were lighter, less expensive and well- constructed, and highly desired by racecar drivers and automotive sporting enthusiasts. Lindberg's Spirit of St. Louis even sported a set of Dayton Wires,'' said Schroeder. ``Despite the introduction of steel wheels, the popularity of wire wheels continues with race car drivers, British car owners and the new car luxury market. While our lowrider business has been impacted by lower-cost imports, we continue to have a strong relationship with that market. Custom wheels and new product introductions are two of our growth areas across all market segments.

``The company recently launched a line of alloy wheels under the name of Dayton Premier Alloys which has been a huge success and also represents a large growth opportunity for the company,'' he added.

``The purchase of aftermarket accessories is a lifestyle choice,'' said Tim Shaffer, Director of Sales and Marketing. ``Much like jewelry, it is an extension of one's personality. Quality wire wheels have always drawn a knowledgeable, discerning clientele. Beginning with the British Car enthusiast, the market expanded into artfully- crafted lowriders and new retro-styled vehicles, and continues to evolve with the celebrity style urban market. Regardless of the customer segment, superior quality is of the utmost importance. And that's where Dayton Wheel Products are unmatched.''

``The strength of the Dayton brand and the dedication of the firm's people are our strongest assets. Our organization's future will be secured by leveraging these assets to focus on quality, innovative products and new markets. Growth over the next three years will be determined by our ability to focus on sales and marketing within our various customer segments,'' said Schroeder.

Schroeder's new ownership represents only the third time the privately held company has changed hands. According to Plant Manager Dave Rankin, while employees were surprised by the announcement of an ownership change, they have become optimistic about their future and the future of Dayton Wheel. ``Our employees take great pride in their work and are committed to manufacturing the highest quality 'Daytons' for many years to come.''

Since its founding over 85 years ago, Dayton Wheel Products has focused on manufacturing, customizing and restoring the world's finest wire wheels. Produced completely in house under strict quality control standards, Dayton Wire Wheels and Dayton Premier Alloys combine precision engineering, premium construction and one-of-a-kind styling for a level of distinction and durability unmatched in the industry. For more information about Dayton Wheel and its products visit the website at www.daytonwirewheels.com .