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Oxford Automotive Completes Purchase of Major French Stamper

5 February 1999

Oxford Automotive Completes Purchase of Major French Stamper, Cofimeta Group

    TROY, Mich., Feb. 5 -- Oxford Automotive, Inc. announced
today it has closed on its agreement to purchase Cofimeta Group from France's
Groupe Valfond SA.  Cofimeta is a leading automotive stamping and metalforming
company.
    With 21 facilities in the United States, Mexico, Canada, South America,
and Europe, Oxford Automotive is quickly becoming a major supplier to the
world's automotive manufacturers and the acquisition of Cofimeta Group expands
Oxford Automotive's presence into Europe.
    Cofimeta has annual sales of approximately $200 million (U.S.) per year
and produces products for customers including Renault SA, PSA Peugeot Citroen,
Toyota, Volkswagen, BMW, and Nissan.  Cofimeta operates five manufacturing
facilities in France that employ 1,600 people.  These facilities are located
in Douai, St. Florent and Orbec, France.  Cofimeta produces metal body parts,
chassis, suspension and structural components and systems, assembly
operations, e-coatings and JIT deliveries to the automotive industry.
Cofimeta is QS9000 recognized by North American OEMs, EAQF 94, recognized by
French, German and Italian manufacturers and ISO 9001 certified.
    Jean-Francois Constant, formerly Director General of Cofimeta Group, has
been appointed President of Oxford Automotive France and will oversee the
day-to-day operations of the newly acquired company headquartered in Paris.
"Jean-Francois brings a strong European automotive background which will be a
tremendous asset to the international growth of Oxford," said Steven Abelman,
President and CEO of Oxford Automotive.
    Oxford Automotive, Inc., headquartered in Troy, Mich., is a leading full
service Tier 1 designer and producer of high quality, engineering metal
components, assemblies and modules used by automotive OEMs.  Oxford Automotive
operates 21 facilities with state-of-the-art technologies in metal stamping,
roll forming, welding and assembly equipment.