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ASC Incorporated & Edscha Awarded BMW Z3 Roadster Roof System Contract

30 November 1999

ASC Incorporated & Edscha Awarded BMW Z3 Roadster Roof System Contract

    SOUTHGATE, Mich., and REMSCHEID, Germany, Nov. 30 -- ASC
Incorporated, Southgate, Mich., U.S.A., and Edscha Cabrio-Verdecksysteme GmbH,
Hengersberg, Germany, have been awarded the contract for development and
production of the complete roof system of the next generation BMW Z3 Roadster.
The $260 million contract is for more than 300,000 vehicles over the life of
the project.
    For this project, ASC and Edscha have agreed to form a 50/50 joint venture
company to develop and deliver the open-air systems.  This new company will
have overall responsibility for handling the project.  Development work will
take place predominantly in Germany, while production will be located in a new
facility near BMW's U.S.A. plant in Spartansburg, S.C.
    ASC has supplied both soft and hardtops for the current Z3 model since
1996 from their facility in Columbus, Ohio.  Edscha has supplied roof systems
for the BMW 3 Series and Z8 since 1985.
    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.