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Oxford Automotive, Inc. Acquires Leading German Automotive Supplier, Wackenhut Gmbh

29 June 1999

Oxford Automotive, Inc. Acquires Leading German Automotive Supplier, Wackenhut Gmbh

    TROY, Mich., June 28 -- Oxford Automotive, Inc. announced it
has purchased one of the leading German automotive suppliers Gebr.Wackenhut
GmbH located in Nagold, Germany.  "Wackenhut is a perfect strategic
acquisition for Oxford Automotive.  It has a history of innovation and problem
solving in addition to being a supplier of first rate products," said Steven
M. Abelman, president and chief executive officer of Oxford Automotive, Inc.
"This acquisition compliments our existing stamping and equipment expertise
and marks our second acquisition in our European growth strategy.  It also
proves our commitment to becoming the leader in supplying integrated metal
forming systems to OEMS world wide."
    Wackenhut's main products are complex stampings and assemblies, including
the production and surface treatment of truck cabs.  Wackenhut has an
excellent reputation for high quality products and holds a superior market
position as a full service supplier with their complete value production chain
from tooling to surface treatments.  Wackenhut has strong and long established
relationships with Germany's major automotive manufacturers, including
DaimlerChrysler, Audi, VW and BMW.
    Wackenhut, founded in 1933 as a coach manufacturer, supplies the
automotive industry with sheet metal processing including tooling, stamping,
assembly and surface treatment.  Wackenhut, with annual sales of approximately
$61 million dollars, employs approximately 500 employees in three production
facilities located in Nagold, Germany.  These facilities are all ISO and VDA
6.1 certified.
    Oxford Automotive, Inc. headquarted in Troy, Michigan, is a leading full
service Tier 1 designer and producer of high-quality, engineered metal
components, assemblies and modules used by automotive OEMS.  Oxford currently
operates 24 facilities with state-of-the-art technologies in metal stamping,
rollforming, welding and assembly equipment.