Dura Automotive Systems and Trident Automotive Complete Merger
30 April 1998
Dura Automotive Systems, Inc. and Trident Automotive Plc Announce Completion of MergerMINNEAPOLIS, April 30 -- Dura Automotive Systems, Inc. (Dura) , and Trident Automotive plc (Trident) announced today that they have completed the previously announced merger. The combination results in the world's leading independent supplier of cable-related systems for the automotive industry. Trident had revenues of approximately $300 million in 1997, of which 69 percent was derived from sales of cable assemblies and the balance from door handle assemblies, lighting and other products. Approximately 68 percent of Trident's revenues were generated in North America, 27 percent in Europe and the remainder in Latin America. Collectively, the merger of Dura and Trident had combined pro forma 1997 revenues of approximately $825 million. Trident's operations are headquartered in Michigan, with manufacturing and technical facilities in Michigan, Tennessee, Arkansas, Canada, the United Kingdom, Germany, France and Brazil. Dura Automotive Systems, Inc., is a leading designer and manufacturer of driver control systems, engineered mechanisms 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, including Toyota and Honda. The company's European and Latin American facilities support Ford, General Motors, Volkswagen, Mercedes, BMW, PSA (Peugeot and Citroen) and various other OEMs. Dura's operating headquarters is in Rochester Hills, Mich., and its corporate office is in Minneapolis, Minn. SOURCE Dura Automotive Systems, Inc.