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Metalforming Technologies Acquires MetalForm Industries

15 September 1998

Metalforming Technologies Acquires MetalForm Industries; Third Acquisition Brings Annual Revenues to $120 Million

    CHICAGO--Sept. 15, 1998--Metalforming Technologies, Inc., recently formed to acquire highly capable suppliers to the automotive and truck industries, today announced that it has acquired MetalForm Industries, Inc.
    A manufacturer of metal stamped structural components for the automotive market, MetalForm Industries has facilities in Davisburg, Michigan and Lexington, Kentucky. Estimated 1998 revenues are $50 million.
    The acquisition is the third completed by Metalforming Technologies in its first month of operation, and brings total estimated annual revenues to more than $120 million.
    "MetalForm Industries is an ideal fit with our strategic growth plans," said Richard D. McClain, president and chief executive officer of Metalforming Technologies. "This acquisition is a major step forward in creating the critical mass we need to achieve economies of scale and synergies in technology, engineering, manufacturing and marketing, which will be critical to our success in the rapidly consolidating automotive and truck supply industries."
    Earlier this month, Metalforming Technologies completed its first two acquisitions when it acquired Northern Tube, Inc., a manufacturer of large diameter tubular components for both automotive and medium/heavy duty truck markets, and Johnson Stamping, Inc., a manufacturer of precision metal stamped automotive components.
    Metalforming Technologies, Inc., headquartered in Chicago, IL, operates metal stamping and forming companies in the automotive and truck industries. The company was formed in July 1998 by TMB Industries, Inc., a major automotive and truck supplier, and Chase Capital Partners.