Global CTS CAR TOP SYSTEMS Announces Grand Opening of Bowling Green Assembly Plant

BOWLING GREEN, Ky.--Sept. 4, 2003--CTS CAR TOP SYSTEMS, a global supplier of vehicle roof systems, will celebrate the grand opening of its assembly plant in Bowling Green, Kentucky, the first North American manufacturing facility for the company.

CTS CAR TOP SYSTEMS will hold a grand opening celebration at its Bowling Green plant from 3 p.m. to 6 p.m. on Thursday, Sept. 18. The event will feature a welcome by company officials and community leaders and will include refreshments. The event is open to the public and will include plant tours.

The newly-constructed facility represents a $5-million investment for CTS CAR TOP SYSTEMS, including $2 million in construction costs and $3 million in equipment, machinery and supplies. The 27,000-square-foot plant is located in the South Central Kentucky Industrial Park, near General Motors Corvette Assembly Plant.

With its North American headquarters in Rochester Hills, Mich., CTS CAR TOP SYSTEMS is a leading supplier of roof systems to the global automotive industry. The company is a fully-owned subsidiary of CTS CAR TOP SYSTEMS GmbH, a private firm based in Germany with annual sales of more than $200 million.

The CTS Bowling Green assembly plant produces the retractable hardtop for the all-new ultra-luxury Cadillac XLR and also will supply convertible soft tops for the next-generation Corvette.

"Bowling Green was among a number of locations being considered for the company's first North American facility, including a number of sites in Tennessee and adjoining states," said Klaus Striegel, CEO, CTS CAR TOP SYSTEMS. "A deciding factor was the location - it's in the heart of several U.S.-based OEM automotive operations and therefore provides us with additional strategic opportunities for further business development."

Mr. Striegel added, "We look forward to becoming an active corporate citizen and continue to grow and invest in this community over the years."

Kentucky Governor Paul Patton, along with CTS CAR TOP SYSTEMS officers, made the official groundbreaking announcement two years ago to community and business leaders. State Economic Development Secretary Gene Strong also praised the company's bold move as innovative and good for the local regional economy.

"CTS CAR TOP SYSTEMS represents yet another overseas investment in Bowling Green," Strong said. "This is a world-class company that brings tremendous opportunities to this area and our entire commonwealth."

Local economic development officials estimate that about 75 new jobs will be created at the new facility.

The stimulus for building in the Bowling Green area came after CTS CAR TOP SYSTEMS won a contract to produce retractable hardtop roof modules for the Cadillac XLR, marking the official beginning of its production in North America. As an integrated GM partner, the company is supplying innovative retractable hardtops for the XLR.

CTS CAR TOP SYSTEMS product line includes textile folding tops, retractable hardtops, sliding roof systems, removable hardtops and removable roof panels.

CTS CAR TOP SYSTEMS is a global automotive systems supplier offering high-quality specialty vehicle design, engineering prototype and production services. The company also designs, develops and manufactures an array of ready-to-install roof system modules for most original equipment manufacturers, including Ferrari, General Motors (Cadillac, Chevrolet, Saab), Mercedes-Benz and Porsche.

CTS CAR TOP SYSTEMS GmbH is an independent company headquartered in Germany with North American headquarters located in Rochester Hills, Michigan, and production facilities in the Bremen, Freiburg, Hamburg and Stuttgart (Germany) regions, as well as Bowling Green, Kentucky. The company has more than 900 employees worldwide.