MSX International, Inc. Acquires Interest in CADFORM GmbH
10 February 1999
MSX International, Inc. Acquires Interest in CADFORM GmbH, German Automotive Product Design Services CompanyAUBURN HILLS, Mich., Feb. 9 -- MSX International, Inc., a major provider of product development services and technology-based business services, headquartered in Auburn Hills, Michigan, announced that it has acquired an interest in CADFORM GmbH, a German company providing product design and tooling services to the automotive industry. CADFORM GmbH will engage in joint projects with MSX International across a broad range of programs serving global customer accounts. The company, founded in 1970, is headquartered in Homburg (Ohm) Germany, and specializes in automotive interior systems and cast aluminum products. Annual revenue of the company exceeds $14 million (US dollars). "CADFORM adds significant capability to our Product Development Services offerings in Germany. CADFORM has a strong core of technology services which complement MSX International's professional staff in our existing branch offices, which are strategically located near the major automotive manufacturers in Germany," stated John Risk, president of the Product Development Services Division of MSX International. Volker Wagner and Ludwig Leissing are the two Managing Directors of CADFORM GmbH. Wagner said, "Aligning our capabilities in Germany with MSX International gives CADFORM access to MSX International's global customer base and to resources necessary for success in the expanding engineering services industry." With annual sales exceeding $1 billion (U.S. dollars), MSX International employs more than 12,000 professional staff and contract personnel at over 55 operating locations and in 22 countries worldwide. MSX International offers its customers a wide range of technology-based services, both on-site and off- site, including product engineering and manufacturing engineering services; contract and temporary staffing; training services; purchasing support services; electronic document and information storage and retrieval services; process improvement consulting services; and marketing support services. This document contains statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties. Actual results may vary materially from those in the forward-looking statements as a result of any number of factors, many of which are beyond the control of management. These important factors are discussed in the MSX International Registration Statement on Form S-4 (dated July 22, 1998). MSX International's headquarters is in Auburn Hills, Michigan. Visit MSX International's website at http://www.msxi.com. MSX International news releases are also available at http://www.prnewswire.com.