GDX Automotive Sale Complete

New Management Team in Place

FARMINGTON HILLS, Mich., Sept. 7 -- GDX Automotive today introduced a new global management team to lead the company after the successful sale of the business by former parent company GenCorp Inc. to Cerberus Capital Management, L.P, a New York-based investment firm. GDX Automotive is a global supplier of vehicle sealing and engineered components with manufacturing operations in North America, Europe and China.

"GDX is a world-leading supplier of engineered vehicle sealing, encapsulated glass and vibration control systems. Our new-found independence as well as the support and commitment of our investors gives us the opportunity to significantly grow our business to the next level as a preferred supplier for our global customers," said Morris Rowlett, incoming GDX Automotive Chairman and Chief Executive Officer. Mr. Rowlett comes to GDX with over 20 years of experience in automotive and manufacturing turnaround management. He has served as Chairman and/or Chief Executive Officer of four automotive industry suppliers during the past nine years. Previously, Mr. Rowlett was the President and CEO of Japanese automotive supplier Ryobi Die Casting, USA. Most recently he has been Chairman of the Board of Guilford Mills, Inc., a position in which he will continue. Guilford Mills is one of the largest automotive manufacturers of body cloth and headliner fabric in the U.S. and Europe.

Mr. Rowlett is joined at GDX Automotive by Mr. Robert Eckert, Executive Vice President for Administration and Chief Financial Officer and Mr. Mark Krupp, Executive Vice President for Global Operations. Both Mr. Eckert and Mr. Krupp are currently Executive Vice Presidents at Guilford Mills where they will continue as advisors in finance and operations. They have previously participated with Mr. Rowlett in management of automotive equity investments including Pilot Industries, a maker of fuel and brake line systems and Diversified Diemakers and Ganton Industries, manufacturers of aluminum, magnesium and zinc machined die castings.

GDX Automotive also announced the promotions from within the organization of Mr. Dave Prater to Vice President for Global Engineering and Mr. Brent Fischmann to Vice President for Global Sales & Marketing.

Headquartered in New York, Cerberus Capital Management and its affiliated entities manage funds and accounts with capital in excess of $14 billion.