STADCO GMBH APPOINTS NEW MD TO HELP DRIVE BUSINESS IN KEY EUROPEAN MARKETS

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STADCO GMBH APPOINTS NEW MD TO HELP DRIVE BUSINESS IN KEY EUROPEAN MARKETS
24 February 2004 - Stadco

Stadco, a leading UK based manufacturer and supplier of body-in-white stampings and assemblies to the automotive industry, has announced the appointment of Heinz Schmitz, 42, as managing director of Stadco GmbH with effect from 19th January 2004.

The new appointment of Mr Schmitz to Stadco GmbH, the main shareholder of Stadco Saarlouis and Michel Automation, underlines Stadco's commitment to developing its automotive business in the key German and wider European markets.

Mr Schmitz has previously worked for Siemens, Delco Electronics, TI and Alps in technical and commercial development and management roles. He will be based at the Stadco Munich office in Karlsfeld and will also spend time at Stadco's Shrewsbury plant and recently acquired Saarlouis facility.

Stadco's 33,000 square metres body shop in southwest Germany is located adjacent to Ford's Saarlouis plant and the company is already working in partnership with the carmaker to manufacture 28 major body-in-white sub-assemblies for the Ford Focus. Importantly the body shop, in the heart of the European automotive industry, provides a base for Stadco to help meet the growing demand from other vehicle manufacturers who are beginning to recognise the efficiency, productivity and cost benefits of outsourcing body-in-white assembly operations.

Commenting of the appointment of Mr. Schmitz to Stadco GmbH, Andrew Morriss, managing director of the Stadco Group, said: "We are delighted to welcome Heinz Schmitz on board. In particular, his extensive experience in business development will help Stadco achieve its strategic goal of growing business in the key automotive markets of continental Europe."

http://www.stadco.co.uk

About: Stadco
Stadco Ltd, part of the privately-owned Acertec Group, is one of the fastest growing players in the global market for body-in-white technology. Its acquisition in mid 2004 of the former Mayflower Vehicle Systems business doubled its turnover to more than EUR300 million and provided it with some of the most advanced press shop facilities and sub assembly operations in the industry. The company operates from eight sites in the UK and two in Germany, including a major presence at Ford's Saarlouis facility in Germany where it manufactures BIW assemblies for the new Focus model. Other major clients include BMW, Land Rover, Jaguar, Aston Martin and MG Rover.

Stadco Engineering brings together the global resources and skills of both Stadco and MVS and has a tremendous track record, most recently proven in the mould-breaking body of the advanced Ford GT project (with its roots in the legendary Ford GT 40) and the Mercedes-Benz Accelo in Brazil. Based in Coventry, UK, Stadco Engineering gives the company newfound strengths in body engineering, enabling it to win new business calling on a 'total solutions' approach rather than merely being a supplier of body-in-white production and assembly expertise.

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