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Dura Automotive Acquires Reiche GmbH & Co. KG Automotive Components

27 November 2000

Dura Automotive Acquires Reiche GmbH & Co. KG Automotive Components

    ROCHESTER HILLS, Mich., Nov. 24 Dura Automotive Systems, Inc. , today announced it has
acquired Reiche GmbH & Co. KG Automotive Components ("Reiche Automotive") from
Reiche GmbH & Co. KG Management Verwaltungs-und Beteiligungsgesellschaft.
    Reiche Automotive, located in Lage/Lippe, Germany, is a manufacturer of
steering columns and steering column components for the automotive industry.
It has revenues of approximately $60 million, primarily to General
Motors/Opel.  Consideration for the acquisition is valued at approximately
$20 million, which includes stock from a foreign Dura Automotive subsidiary
and assumption of Reiche Automotive debt of approximately $4 million.
    In commenting on the acquisition, Karl F. Storrie, president of Dura
Automotive, said, "This acquisition is an important addition to our current
steering column business.  It enhances our strategy to provide cockpit modules
and components to the automotive OEM's and 1st tier suppliers."