The Budd Company Acquires Stahl Specialty Company

26 May 2000
The Budd Company Acquires Stahl Specialty Company
    TROY, Mich., May 26 The Budd Company announced today that
it has acquired Stahl Specialty Company, one of the largest privately owned
aluminum foundries in the country.  Sale price was undisclosed.
    Siegfried Buschmann, chairman and CEO of Budd, said: "Stahl Specialty will
become part of our foundry operations headed by Waupaca Foundry, Inc., a
subsidiary of Budd.  Our foundries now offer a wide range of ductile and gray
iron products as well as quality lightweight aluminum castings."
    "This acquisition is part of our long term strategy to provide the auto
industry with a wide variety of multi-material casting capabilities."
    Stahl Specialty, founded in 1946, has facilities in Kingsville and
Warrensburg, Mo.  Its five foundries ship approximately 45 million pounds of
aluminum and produce 15 million castings annually.  Approximately 80 percent
of its business is transportation related.
    The company has 1,021 employees which will bring Waupaca Foundry's total
employment to more than 4,000.
    Gary L. Thoe, president and CEO of Waupaca Foundry, applauded the
announcement.
    "We are excited to welcome Stahl Specialty and its people to the Waupaca
team," Thoe said.  "Stahl Specialty's reputation is well respected and its
foundry expertise combined with Waupaca's capabilities will enhance our
ability to serve automotive and other customers on a worldwide basis."
    Thoe added that Jack Moore will remain president of Stahl Specialty and
there would be no major changes to the Stahl management.
    Stahl Specialty's technology includes the permanent mold castings process.
The tooling used in the process offers high mechanical properties, dimensional
repeatability, good surface finish and reduced machining at lower cost.
    Both Stahl Specialty and Waupaca Foundry primarily serve the automotive
industry.  Waupaca Foundry is one of the largest independent foundries in the
nation and the largest foundry in terms of gray and ductile iron poured
annually.
    Waupaca Foundry was founded in 1955.  The company is headquartered in
Waupaca, Wis., and is a subsidiary of The Budd Company, a Troy, Mich.-based
supplier of automotive components with $2.5 billion in annual revenues.
    Waupaca has three plants in Waupaca, one in Marinette, Wis., one in Tell
City, Ind., and soon will open a new plant in Etowah, Tenn. which, when
completed, will represent an investment of nearly $200 million.
    Budd produces components such as doors, fenders, roofs, hoods, and
decklids in sheet metal as well as in sheet molded composite (SMC), and gray
iron and ductile iron castings for about 100 current vehicle models.  Budd
also makes prototypes, chassis frames and subframes, bumpers and bumper
reinforcements, cold weather starting and heating products, and air bag
components for the automotive industry.
    Budd is part of the ThyssenKrupp Automotive Group, a $5.5 billion supplier
providing body systems, chassis/suspension parts, powertrain components and
systems/suspension to the automotive industry worldwide.  Budd operates 39
facilities with more than 13,000 employees in North America.  In addition, the
company has offices in Stuttgart, Germany, and Tokyo, Japan.