Dura Automotive Systems, Inc. Announces Offering
28 May 1998
Dura Automotive Systems, Inc. Announces Offering to Sell Class A Common StockMINNEAPOLIS, May 27 -- Dura Automotive Systems, Inc. , today announced it has filed a registration statement with the Securities and Exchange Commission covering the sale of 3.0 million shares of Class A common stock. In addition, certain stockholders are selling 1.4 million shares of Class A common stock, bringing the total offering to 4.4 million shares. The company's net proceeds from the offering will be used to retire outstanding indebtedness. Donaldson, Lufkin & Jenrette Securities Corporation ("DLJ"), Robert W. Baird & Co. Incorporated, PaineWebber Incorporated and Piper Jaffray, Inc. are the underwriters of the offering. A prospectus can be obtained by contacting DLJ at 277 Park Avenue, New York, NY 10172. Dura Automotive Systems, Inc., is a leading designer and manufacturer of driver control systems, cable-related systems and engineered mechanical components for the global automotive industry. The company's products include parking brake systems, automotive cables, transmission shifter systems, latches, underbody tire carriers, jacks, brake, clutch and accelerator pedals and other mechanical assemblies. The company's products are sold to major North American original equipment manufacturers (OEMs), including Ford, GM and Chrysler, as well as Japanese OEMs, including Toyota, Honda and Nissan. The company's European and Latin American facilities support Ford, GM, Volkswagen, Mercedes, BMW, PSA (Peugeot and Citroen), Renault, Fiat, Porsche and various other OEMs. Dura's operating headquarters is in Rochester Hills, Mich., and its corporate office is in Minneapolis, Minn. A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.