Dura Auto Buys German Auto Parts Company

Autoparts Report,  Dec 15, 2000  

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Dura Automotive Systems, Inc., said it has acquired Reiche Gmbh & Co. KG Automotive Components 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, Dura said. The acquisition is valued at approximately $20 million, which includes stock from a foreign Dura 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."

Dura Automotive Systems, Inc., said it is the world's largest independent designer and manufacturer of cockpit sub-systems and a leading global supplier of door modules, seat mechanisms and structures, glass systems and engineered assemblies for the global automotive industry. The company is also a leading supplier of similar products to the North American recreational vehicle and mass transit market.

The company's products include door modules, parking brake systems, automotive cables, transmission shifter systems, encapsulated and sliding windows, window regulators, hinges, latches, seating systems, engine control products, underbody tire carriers, jacks, brake, clutch and accelerator pedals and other mechanical assemblies.

The company said it's products are sold to every North American, European and Japanese original equipment manufacturers, including Ford, General Motors, DaimlerChrysler, Volkswagen, BMW, Toyota, Honda, Nissan, PSA (Peugeot and Citroen) and Renault.

COPYRIGHT 2000 Ron DeMarines
COPYRIGHT 2008 Gale, Cengage Learning