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AUTOMOTIVE INDUSTRIES HOLDING, INC. FILES STOCK OFFERING

 MINNEAPOLIS, July 2 /PRNewswire/ -- Automotive Industries Holding, Inc. (NASDAQ: AIHI) announced today that it has filed a registration statement with the Securities and Exchange Commission for an offering of 2,000,000 shares of Class A common stock by the company. In addition, certain shareholders will sell 2,600,000 shares of Class A common stock in the offering. Kidder, Peabody & Co. and Lehman Brothers will co- manage the underwriting group. The company's net proceeds of the offering will be utilized to repay its 9.5 percent junior subordinated notes and other indebtedness.
 Automotive Industries is a leading designer and manufacturer of high quality interior trim systems and blow molded plastic parts principally for North American car, mini van and light truck original equipment manufacturers. Principal customers include Ford, Chrysler and General Motors, as well as several Japanese companies manufacturing automobiles in the United States. Revenues for the 12 months ended March 31, 1993 totaled $291.2 million. The company maintains a corporate office in Minneapolis and operating headquarters in Strasburg, Va.
 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 press release 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.
 -0- 7/2/93
 /CONTACT: Melissa Quinn of Padilla Speer Beardsley, (612) 871-8877, for Automotive Industries Holding; or Scott Rued of Automotive Industries Holding, 612-332-6828/
 (AIHI)


CO: Automotive Industries Holdings, Inc. ST: Minnesota IN: AUT SU: OFR

AL -- MN010 -- 8188 07/02/93 14:05 EDT
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Publication:PR Newswire
Date:Jul 2, 1993
Words:315
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