---

ASC Incorporated & Edscha Establish Joint Venture

30 November 1999

ASC Incorporated & Edscha Establish Joint Venture

    SOUTHGATE, Mich., and REMSCHEID, Germany, Nov. 30 -- ASC
Incorporated, Southgate, Mich., U.S.A., and Edscha AG, Remscheid, Germany,
have agreed to form a 50/50 joint venture for the development, production and
delivery of complete convertible roof systems.  The joint venture will be
focused on serving BMW on the successor to the Z3 Roadster.
    Both companies specialize in open-air roof concepts for specialty vehicles
such as convertibles and roadsters.  ASC is the leader in specialty vehicle
and open-air development in North America, with current production programs
with BMW, DaimlerChrysler, General Motors, Honda, Mitsubishi and Toyota.
Edscha is regarded as the technological leader in Europe, and supplies BMW,
Audi, VW, Rover, Ferrari, Bertone (Opel) and Volvo with convertible roof
systems.
    The first project of the joint venture will bring the strengths of ASC and
Edscha together within the framework of a globally active company focused on
the specialized field of open-air development and delivery.
    The Edscha Group, a subsidiary of Edscha AG, Remscheid, Germany,
specializes in Body Products (including car door hinges, door checks and pedal
boxes), Convertible Tops and Sliding Roofs for trucks.  The Edscha Group had
1998/99 Fiscal Year sales of nearly $500 million with 4,084 employees.  In
addition to the three German production locations, 15 plants outside Germany
also belong to the Group.
    ASC is a global specialty vehicle and products manufacturer with
five operating activities:  Creative Services provides automotive design,
engineering and prototype services; Specialty Vehicles supplies the automotive
industry manufacturing expertise, development and production of specialty
vehicles; Engineered Systems manufactures and distributes open-air systems
(sunroofs and convertible tops) for OEM and aftermarket applications;
Composites Systems develops and produces a variety of composite products
(removable hardtops and molded products) for OEM and aftermarket applications;
and Aftermarket Products engineers and develops vehicle accessories for the
aftermarket.
    Headquartered in Southgate, ASC maintains operations throughout the U.S.
and Canada, and in Germany and Korea.  The company, together with its
associate companies, has annual sales of more than $500 million.  The group
employs 3,500 in 29 production locations around the world to manufacture and
assemble specialty vehicles and roof systems.