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Dura Automotive Systems, Inc. Acquires Universal Tool & Stamping Co., Inc.

10 March 1998

Dura Automotive Systems, Inc. Acquires Universal Tool & Stamping Co., Inc.

    MINNEAPOLIS, March 9 -- Dura Automotive Systems, Inc.
, today announced it has acquired Universal Tool & Stamping Co.,
Inc. ("Universal") from ACME Metals Incorporated .
    Universal, a manufacturer of jacks for the North American automotive
industry, has revenues of more than $30 million and its major customers
include General Motors, Ford, Honda and Nissan.  The aggregate purchase price
was approximately $18 million and was financed with borrowings under the
company's existing credit facility.
    In commenting on the acquisition, Karl F. Storrie, president of Dura
Automotive, said, "This acquisition is an important element in our strategy to
expand our offerings of highly engineered automotive components.  It provides
us with a market presence in jacks in North America to complement our recent
acquisition of REOM Industries in the Pacific Rim, and adds Honda as a
significant new customer."
    Dura Automotive Systems, Inc., is a leading designer and manufacturer of
driver control systems, engineered mechanical components and cable-related
systems for the global automotive industry.  The company's products include
parking brake systems, automotive cables, transmission shifter systems,
latches, underbody tire carriers, jacks, brake, clutch 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 Latin American facilities support Ford, GM, VW,
Mercedes, BMW, PSA (Peugeot and Citroen) 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.