DURA Automotive to Open Production Facility in Romania.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 plans to open a manufacturing plant in Timisoara, Romania. The facility will produce a broad range of automotive components for automakers in Central and Eastern Europe The term "Central and Eastern Europe" came into wide spread use, replacing "Eastern bloc", to describe former Communist countries in Europe, after the collapse of the Iron Curtain in 1989/90. . Groundbreaking will begin this month, with production to start in 2005. "This is another step forward in enhancing our multi-geographic-flexibility to support our customers wherever they are in the world," said Larry Denton, president and chief executive officer of DURA Automotive. "Opening a facility in Romania is a continuation of our growth strategy with automakers expanding operations throughout Eastern Europe Eastern Europe The countries of eastern Europe, especially those that were allied with the USSR in the Warsaw Pact, which was established in 1955 and dissolved in 1991. ." The initial 50,000-square-foot Timisoara facility is the first phase of a four-phase plan that will be supported by new business contracts to produce automotive driver control systems and body and glass systems. This will be the fifth DURA plant based in Central/Eastern Europe; DURA currently has three operations in the Czech Republic Czech Republic, Czech Česká Republika (2005 est. pop. 10,241,000), republic, 29,677 sq mi (78,864 sq km), central Europe. It is bordered by Slovakia on the east, Austria on the south, Germany on the west, and Poland on the north. and a fourth facility in Slovakia. Automakers with current or announced manufacturing operations Manufacturing operations concern the operation of a facility, as opposed to maintenance, supply and distribution, health, and safety, emergency response, human resources, security, information technology and other infrastructural support organizations. in the Central/Eastern Europe region include Avtovaz, BMW BMW in full Bayerische Motoren Werke AG German automaker. Founded as an aircraft engine manufacturer in 1916, the company assumed the name Bayerische Motoren Werke and became known for its high-speed motorcycles in the 1920s. , Dacia, Daewoo, DaimlerChrysler, Fiat Group, Ford, General Motors, Honda, Hyundai, PSA (Professional Services Automation) An information system designed to organize, track and manage all opportunities, work, resources, costs, revenues and invoices to improve the productivity and efficiency of the workforce. , Renault-Nissan, Subaru, Suzuki, Toyota and Volkswagen. About DURA Automotive Systems, Inc. DURA Automotive Systems, Inc., is the world's largest independent designer and manufacturer of driver control systems and a leading global supplier of seating control systems, engineered assemblies, structural door modules and integrated glass systems for the global automotive industry. The company is also a leading supplier of similar products to the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. recreation and specialty vehicle markets. 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 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. 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 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 than expected. |
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