DURA Automotive Names Timothy Stephens as President of Atwood Mobile Products Division.ROCHESTER HILLS, Mich. -- DURA Automotive Systems Dura Automotive Systems (Pink Sheets: DRRAQ), headquartered in Rochester Hills, Michigan, USA was ranked in the 2006 Fortune 1000. It is engaged in the business of manufacturing and distribution of automotive components. , Inc. (Nasdaq:DRRA DRRA Dynamic Radio Resource Allocation ), today announced the promotion of Timothy C. Stephens, 45, to president of the company's Atwood Mobile Products division, effective March 6, 2006. Stephens will succeed Al Liddell, who is leaving Atwood to pursue other opportunities. The Atwood division is a leading $380 million designer and manufacturer of recreation vehicle (RV) and specialty vehicle products. "We look forward to Tim's continued contributions in his new capacity as president of the Atwood Mobile Products division and as an officer of DURA," said Larry Denton, chairman and chief executive officer of DURA Automotive. "Tim is a seasoned executive with significant automotive industry The automotive industry is the industry involved in the design, development, manufacture, marketing, and sale of motor vehicles. In 2006, more than 69 million motor vehicles, including cars and commercial vehicles were produced worldwide. experience that will help him successfully lead our Atwood organization." Commenting further, Denton said: "I want to thank Al for his hard work and dedication over the past 19 years with DURA. He has been a major contributor to the company's growth and we wish him the best in his future endeavors." Stephens has served as vice president and general manager for DURA's North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. shifter and cable systems operations since 2003. Prior to this, he was responsible for 13 of the company's manufacturing facilities in DURA's European Control Systems operations. In this position, Stephens successfully developed a highly motivated mo·ti·vate tr.v. mo·ti·vat·ed, mo·ti·vat·ing, mo·ti·vates To provide with an incentive; move to action; impel. mo customer-driven team focused on improved customer satisfaction, profitability and growth. Stephens joined DURA in 1988 and has extensive experience in operations management Operations management is an area of business that is concerned with the production of goods and services, and involves the responsibility of ensuring that business operations are efficient and effective. , quality, product development and sales. "I am delighted to join Atwood and have the opportunity to lead an organization that has a strong tradition of product innovation, exceptional quality and customer service," said Stephens. "I am committed to building on Atwood's solid reputation with a focus on improved operational efficiency and the introduction of new product advancements that will provide outstanding value to our RV and specialty vehicle customers." About DURA Automotive Systems, Inc. DURA Automotive Systems, Inc., is a leading independent designer and manufacturer of driver control systems, seating control systems, glass systems, engineered assemblies, structural door modules and exterior trim systems for the global automotive industry. The company is also a leading supplier of similar products to the recreation vehicle (RV) and specialty vehicle industries. DURA sells its automotive products to every North American, Japanese and European original equipment manufacturer (OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and ) and many leading Tier 1 automotive suppliers. DURA is headquartered in Rochester Hills, Mich. Information about DURA and its products is available on the Internet at www.duraauto.com. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release contains forward-looking statements that are subject to risks and uncertainties. These statements often include words such as "believe", "expect", "anticipate", "intend", "plan", "estimate", or similar expressions. These statements are based on certain assumptions that the company has made in light of its experience in the industry as well as its perspective of historical trends, current conditions, expected future developments and other factors it believes are appropriate in the circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or . Actual results may differ materially from the anticipated results because of certain risks and uncertainties, including but not limited to (i) expected synergies, economies of scale and cost savings from the company's acquisitions not being fully realized or realized within the expected times frames; (ii) unanticipated difficulties servicing the indebtedness INDEBTEDNESS. The state, of being in debt, without regard to the ability or inability of the party to pay the same. See 1 Story, Eq. 343; 2 Hill. Ab. 421. 2. of the company; (iii) costs or operational difficulties related to integrating the operations of the acquired entities with those of the company being greater than expected; (iv) labor disputes involving the company or its significant customers; (v) risks associated with conducting business in foreign countries, and (vi) general economic or business conditions affecting the automotive industry, either nationally or regionally, being less favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. than expected. |
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