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Peregrine Inc. to Acquire American Commercial Industries' Jackson, Mich. And Matamoros, Mexico Divisions

10 December 1997

Peregrine Inc. to Acquire American Commercial Industries' Jackson, Mich. And Matamoros, Mexico Divisions

    TROY, Mich., Dec. 10 -- American Commercial Industries, Inc.
and Peregrine Inc. have reached an agreement for Peregrine to purchase ACI's
door hinge and spare-tire carrier manufacturing operations.  Terms of the
agreement were not disclosed.
    The door hinge operation is located in Jackson, Mich., and the spare-tire
carrier operation is located in Matamoros, Mexico.  Manufacturing capabilities
include stamping, machining, assembly and in-process testing processes.
    "The proceeds of the sale will improve the technology of existing
facilities and expand manufacturing capabilities of products requiring
engineering and design support to remain competitive in the global automotive
market," said Larry O'Dowd, president and CEO of ACI.  "We plan on reinvesting
the capital in other niche design and manufacturing and pursue future
acquisitions as part of our marketing strategy."
    According to Rod Juve, director of sales and marketing for ACI, the sale
allows the company to refocus marketing efforts away from the closure arena
and into other highly engineered niche products.
    "ACI will continue to design, develop and produce its core products and
market them to meet our customer needs," said Juve.
    Headquartered in Troy, Mich., American Commercial Industries, Inc. is a
leading supplier of process-driven highly engineered, value added metal-formed
and stamped automotive niche components.  Upon the sale completion, ACI's
world-class products will be designed and manufactured by more than 835 people
at three sites located in Michigan and Georgia.
    Information about ACI and its products and services is available on the
Internet at http://www.specialtystampings.com.

SOURCE  American Commercial Industries, Inc.