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Oxford Automotive Completes Purchase of Eaton Corp.'s Suspension Division

1 April 1998

Oxford Automotive Completes Purchase of Eaton Corp.'s Suspension Division

    TROY, Mich., April 1 - Oxford Automotive Inc. announced today
that it has closed on its agreement to purchase the Suspension Division of
Eaton Corporation .  Oxford and Eaton had reached agreement to
purchase the North American Tier 1 supplier of leaf spring suspension systems
March 16.
    Eaton's Suspension Division has annualized sales of approximately $130
million per year, and maintains three manufacturing operations with
approximately 1,060 employees.  These sites are: Wallaceburg, Ontario;
Chatham, Ontario; and Hamilton, Ind.  The Suspension Division is a full line
supplier of multi-plate and long taper leaf springs for sport utility vehicles
(SUV), and light-, medium- and heavy-duty trucks.
    With this most recent acquisition, Oxford is fast becoming an industry
leader in the development and manufacture of control arm and other suspension
products to the light truck and SUV market.  "Eaton's Suspension Division will
strategically complement the extensive suspension products already being
manufactured by Oxford," said Steve Abelman, president and chief executive
officer of Oxford Automotive.
    "In addition," Abelman said, "this acquisition provides Oxford with
increased global capabilities, along with the immediate benefits of the
Suspension Division's facilities and its strong, experienced management team."
    Oxford Automotive, a privately held company headquartered in Troy, Mich.,
is a leading full service Tier 1 designer and producer of high-quality,
engineered metal components, assemblies and modules used by automotive OEMs.
Oxford operates 17 manufacturing facilities with state-of-the-art technologies
in metal stamping, rollforming, welding and assembly equipment.

SOURCE  Oxford Automotive Inc.