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Plastic Omnium Names Keith Banks as President and CEO

20 January 1999

Plastic Omnium Names Keith Banks as President and CEO; Appointment of Senior Executive Signals Increased Commitment to American Auto Industry

    ROCHESTER HILLS, Mich., Jan. 19 -- As part of an initiative
to further strengthen its U.S. automotive presence and better serve its
customers, Plastic Omnium has appointed Keith W. Banks as president and CEO of
the company's U.S. automotive operations.
    The announcement was made by Jean Burelle, chairman and CEO of Paris-based
Compagnie Plastic Omnium, a leading tier-one automotive, full-service systems
supplier.
    Based at the company's automotive technical center in Rochester Hills,
Mich., Banks will be responsible for Plastic Omnium's U.S. automotive
operations, including overseeing activities at the Rochester Hills and
Anderson, S.C., facilities.
    "Appointing Banks to these key executive positions and locating him in the
Detroit area close to our automotive customers signify Plastic Omnium's
increased commitment to our automotive business," Burelle said.  "We are proud
to have an executive of his stature join Plastic Omnium.  He has extensive
experience in the global automotive industry, having served major automakers
and tier-one suppliers in all phases of product development, engineering,
manufacturing, sales, marketing, strategic planning and business development
in the United States, Europe and Asia."
    According to Burelle, the president's position was previously held by an
executive based in Anderson.
    "I look forward to leading Plastic Omnium's automotive operations and
enhancing the focus on our automotive customers," Banks said.  "In today's
competitive automotive environment, innovation will continue to be a key to
survival.  I joined Plastic Omnium, in part, because of its outstanding
innovative thinking in plastics -- evident in both its current technological
achievements and its absolute commitment to further advancing technology."
    Banks, who has more than 30 years of global automotive experience, joined
Plastic Omnium from Johnson Controls, Inc.  Most recently, he was located in
Hong Kong, where he served as vice president of the company's Pacific
Operations.
    From 1990 to 1996, he worked in a variety of positions for TRW Inc.  There
he served as vice president and general manager, Asia Pacific Region, for the
company's Farmington Hills, Mich.-based Automotive Electronics Group; vice
president, sales, marketing and business development for the Transportation
Electronics Division, in Farmington Hills; and managing director,
Transportation Electronics Ltd., in England.
    Prior to this, he worked at Ford Motor Co. serving in a number of
management positions in England, Germany and Dearborn, Mich.
    Banks earned bachelor of science degrees in electrical and mechanical
engineering from the University of London and has a diploma in management
studies from North London Polytechnic.  A chartered engineer and fellow of the
Institutions of Electrical and Mechanical Engineers (U.K.), Banks also is a
member of the Society of Automotive Engineers.
    Founded in Paris in 1947, Plastic Omnium is a leading manufacturer of
plastic products in four core business segments: automotive systems; urban
systems; 3P-performance plastics products; and medical applications.
    The company, with nearly 9,000 employees in 18 countries worldwide,
operates 50 plants and expects 1998 sales of FRF 9.0 billion (USD 1.5
billion), of which FRF 7.0 billion (USD 1.17 billion) is automotive.  Plastic
Omnium's U.S. automotive sales are expected to increase by 40 percent this
year.
    A leading tier-one, full-service systems supplier, Plastic Omnium's
automotive systems business supplies plastic-based fuel systems, bumper-fascia
systems, exterior components and interior trim.  Its fuel systems business is
a leader in Europe and among the top four worldwide.  Customers of the
company's North American operations include BMW, General Motors and
Volkswagen.