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Advanced Accessory Systems Realigns Units and Appoints Key Executives

21 May 1999

Advanced Accessory Systems Realigns Units and Appoints Key Executives

    STERLING HEIGHTS, Mich., May 21 -- Advanced Accessory
Systems, the world's leading supplier of automotive exterior accessories,
announced that it is realigning its operating units to better provide towing
systems and roof racks to original equipment manufacturers and the North
American aftermarket.
    Richard E. Borghi will be president and chief operating officer of the
business unit serving original equipment manufacturers.  This unit supplies
towing systems and rack systems and includes SportRack Automotive
headquartered in Sterling Heights, MI, and the Madison Heights, MI, operations
of Valley Industries, which will be renamed Valley Automotive. Both SportRack
Automotive and Valley Automotive will maintain their separate customer
identities.
    Roger T. Morgan will be president of the North American Aftermarket Unit
with operations in Auburn Hills, MI, and Lodi, CA.
    Advanced Accessory Systems President and Chief Executive Officer Terence
Seikel said: "This realignment puts us in a better position to meet the
expanding global needs of our customers.  It gives us added flexibility to
significantly expand our aftermarket business through both organic growth and
acquisitions."
    Prior to their current appointments, Borghi served as president and chief
operating officer of SportRack Automotive while Morgan served as president of
Valley Industries.
    A third division, the Brink business unit, is headed by Managing Director
Gerritt de Graaf and provides towing systems to European original equipment
manufacturers and the European aftermarket.
    Headquartered in Sterling Heights, MI, Advanced Accessory Systems has
annual sales of $300 million. Founded in 1995, it today operates 21 facilities
in 12 countries and employs more than 2,000 people.
    The company's Brink and Valley towbar and trailering units combine to
comprise the world's leading towing systems supplier.  Its SportRack unit is
one of the fastest-growing roof rack systems producers in the world.