Oxford Automotive to Close Plant in Masury, Ohio

TROY, Mich., April 2 -- Oxford Automotive, Inc. today announced it would close its stamping facility in Masury, Ohio by the end of October 2003. The closure is the result of overcapacity in the North American light vehicle market and is part of the company's overall effort to cut costs while maintaining a leadership position in the highly competitive automotive industry.

The Masury facility employs 130 full-time people and is a producer of stampings for a variety of automotive applications. Some Equipment may be moved to other Oxford locations throughout North America.

"Actions such as these are never easy to take, but are necessary because of the highly competitive nature of the automotive industry," said Forrest Hayford, President of Oxford's North American Operations. "But we must take these steps to better balance our production capacities with our customer needs."

Employees were advised of the closure today during a meeting at the facility. Oxford has contracted the services of The Transition Team to facilitate the employee outplacement and to provide a smooth transition. In addition to offering employees a two-day seminar, resume counseling and training on interviewing skills, the firm will provide financial counseling, employee assistance program services, and relocation counseling as required.

Oxford Automotive, Inc., headquartered in Troy, Michigan, is a leading full-service supplier of specialized metal-formed assemblies and related services to the global automotive industry. Oxford currently has 7000 employees at 37 facilities in 10 countries around the world.