STADCO ACQUISITION STRENGTHENS PRESS SHOP CAPABILITIES

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STADCO ACQUISITION STRENGTHENS PRESS SHOP CAPABILITIES
23 February 2004 - Stadco

Shrewsbury-based Stadco, the leading European supplier of body-in-white stampings and sub assemblies to the auto industry, has announced the acquisition of Parker Tools Limited, a specialist manufacturer of press tooling and equipment. The acquisition will further enhance Stadco's press shop and stamping capabilities to its automotive customers.

Key benefits of the acquisition to Stadco's automotive customers will include access to Parker Tool's extensive experience in progression tooling manufacture, wire erosion and computer aided design technology which will significantly boost Stadco's in-house capabilities in these key fields.

Parker Tools' experience in the latest CAD CAM technology for rapid prototyping, complimented by the ability to cut straight to metal from drawings of new parts by feeding data direct from a computer to the machining centres which saves valuable time, will be of particular benefit to Stadco's customers. Computer aided engineering is an important tool used in automotive manufacturing as a way to help carmakers achieve their goal of reducing product development time and bring new models to market faster.

Commenting on the acquisition, Kelvin Morgan, Stadco UK Operations Director said: "Whether it's through acquisitions or investments in the latest technology and equipment, Stadco is committed to continually enhancing its service offering to meet the demands of its automotive customers."

Mr Morgan continues: "Another example of this approach has been the recent acquisition of a 33,000 square metre body shop in Saarlouis in southwest Germany in September 2003. The new facility, in the heart of the European automotive industry, provides a base for Stadco to help meet the growing demand from vehicle manufacturers who are beginning to recognise the efficiency, productivity and cost benefits of outsourcing body-in-white assembly operations."

Parker Tools Limited, also based in Shrewsbury with nine employees, will trade as an independent division within the Stadco group.

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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