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Dura Automotive Systems, Inc. Announces Agreement to Acquire GT Automotive Systems, Inc.

1 August 1997

Dura Automotive Systems, Inc. Announces Agreement to Acquire GT Automotive Systems, Inc.

    MINNEAPOLIS, Aug. 1 -- Dura Automotive Systems, Inc.
, today announced that it has signed a definitive acquisition
agreement to acquire GT Automotive Systems, Inc. (GT Automotive),
headquartered in Livonia, Mich.  The agreement is subject to regulatory
approval and other customary matters.  Closing is expected to occur during the
third quarter.
    GT Automotive, a privately held company, has manufacturing facilities in
Livonia and Warren, Mich., and Windsor and Brantford, Ontario, Canada, with
annual revenues of approximately $70 million.  GT Automotive's products
include gearshift lever systems, turn signal and tilt lever assemblies for the
automotive industry.  Customers include Ford, GM and Chrysler.
    Dura President and Chief Executive Officer Karl Storrie said, "GT
Automotive is a leader in column-mounted gearshift levers and other mechanical
assemblies.  In addition to meeting our financial criteria, the combination of
GT Automotive with Dura is an excellent strategic fit.  GT Automotive's strong
market position in column-mounted gearshift systems and other mechanical
assemblies allows Dura to expand our product lines with facilities in close
proximity to many significant customer locations."
    Dura Automotive Systems, Inc. is a leading designer and manufacturer of
driver control mechanisms and cable-related systems for the global automotive
industry.  The Company's products include parking brake systems, automotive
cables, latches, transmission shifter mechanisms and systems, underbody tire
carriers, brake and accelerator pedals, and other mechanical assemblies.  The
company's products are sold to major North American original equipment
manufacturers (OEMs), including Ford, General Motors and Chrysler, as well as
Japanese OEMs, such as Toyota.  The Company's European and South American
facilities support Ford, GM, Volkswagen, BMW, PSA (Peugeot) and various other
OEMs.  Dura Automotive's operating headquarters is in Rochester Hills, Mich.,
and its corporate office is in Minneapolis, Minn.

SOURCE  Dura Automotive Systems, Inc.