Budcan Holdings Announces the Successful Completion of its Bid for the Common Shares of ThyssenKrupp Budd Canada.

KITCHENER, Ontario -- Budcan Holdings Inc., a subsidiary of ThyssenKrupp Budd Company, announced today that it has successfully completed its offer for all of the common shares of ThyssenKrupp Budd Canada Inc. (TSX: BUD) ("Budd Canada") that it does not already own at a price of Cdn. $9.00 per common share in cash.

At the expiry of the offer, more than 783,732 common shares of Budd Canada, or approximately 91.5% of the more than 856,000 minority common shares outstanding, were validly deposited to the offer and not withdrawn. Budcan Holdings has taken up and paid for the common shares deposited.

As more than 90% of the common shares of Budd Canada not owned by Budcan Holdings and its affiliates at the commencement of the offer have been acquired, Budcan Holdings will effect a compulsory acquisition of the remaining shares not deposited to the offer, as described in its offer and circular. Budcan Holdings intends to apply to the Toronto Stock Exchange to de-list Budd Canada's common shares from the exchange.

ThyssenKrupp Budd Canada Inc. is an automotive manufacturer specializing in the production of light truck and sport utility vehicle frames and chassis components.