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LDM Technologies, Inc. Announces Fiscal Year 1997 Financial Results And German Acquisition

15 December 1997

LDM Technologies, Inc. Announces Fiscal Year 1997 Financial Results And German Acquisition

    AUBURN HILLS, Mich., Dec. 15 -- LDM Technologies, Inc.,
reported net sales for the year ended September 28, 1997 were $293.0 million,
an increase of $75.2 million, or 34.5%, from $217.8 million in 1996.  The
strong sales growth was mainly attributable to the acquisitions made in 1997,
Molmec, Inc. and the Aeroquip, Kendallville, Indiana facility, and the
continued strength of existing production parts programs.
    1997 operating profit improved $8.1 million to $16.5 million.  1997
operating profit, expressed as a percentage of net sales, was 5.6% compared to
3.9% in 1997.  The increase in operating profit was primarily the result of
the Molmec acquisition and operating improvements at the Company's Canadian
automotive operation.
    Interest expense for the year ended September 28, 1997 was $11.1 million
versus $3.3 million for the year ended September 29, 1996.  The increased
interest expense was mainly due to the incurrence of additional debt related
to the acquisition of Molmec.
    Net income for 1997 was $3.1 million, or 1.1% of net sales compared to
$1.9 million, or 0.9% of net sales in 1996.
    LDM also reported its acquisition of Aeroquip-Vickers International GmbH's
Beienheim, Germany facility.  The Beienheim facility reported approximately
$33 million of net sales for the year ended December 31, 1996.  The facility
employs approximately 250 people and produces plastic parts for Ford's
European operations, General Motor's Adam Opel AG division and Audi AG.

SOURCE  LDM Technologies, Inc.