Metalforming Technologies Acquires 3 Automotive Components Manufacturers

18 June 1999

Metalforming Technologies Acquires Three Automotive Components Manufacturers

    CHICAGO--June 17, 1999--Metalforming Technologies, Inc. (MTI) announced today that it has acquired three manufacturers of automotive components with combined 1998 annual sales of more than $90 million. Terms of the transactions were not disclosed.
    MTI is a privately-held company that was formed 10 months ago by TMB Industries and Chase Capital Partners to acquire highly capable suppliers to the automotive and truck industries. To date the company has acquired seven companies (including the acquisitions announced today) with combined estimated 1999 revenues exceeding $250 million, nine manufacturing locations and 1,500 employees.

    The new acquisitions are:

-	DynAmerica Manufacturing Company, Muncie, Indiana, which manufactures parts for seat belt assemblies, brake adjusters, shock absorber components, and motor housings at two manufacturing locations;
-	Flint Manufacturing Company, Burton, Michigan, which manufactures seat belt assemblies and power train components; and
-	Crescive Die and Tool Inc., Saline, Michigan, which manufactures heating and air conditioning components, safety-related parts and structural products at two manufacturing locations.

"These acquisitions complement our existing product lines and offer benefits in technology, engineering, manufacturing and marketing," said Richard D. McClain, president and chief executive officer of Metalforming Technologies. "In less than a year we have passed the quarter-billion-dollar mark in revenues, moving us significantly closer to our goal of becoming a leader in the rapidly consolidating automotive and truck supply industries."
Headquartered in Chicago, Metalforming Technologies, Inc. (MTI) is a leading supplier to the automotive and truck industries. MTI manufactures products for a wide array of vehicle applications, including passenger restraints, seating, braking, fuel delivery, suspension, exhaust, power train, heating and air conditioning, and structural systems.