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MOTOR PANELS INC FINALIZES PURCHASE OF NEW STAMPING PLANT

 NORWALK, Ohio, March 9 /PRNewswire/ -- Motor Panels Inc has announced that it has finalized the acquisition of the Shadyside Stamping facility of Shadyside, Ohio.
 Motor Panels Inc is a subsidiary of the British company, The Mayflower Corporation plc, and this latest substantial development is part of the company's strategy to provide a truly world class full service low to medium volume specialist manufacturing capability in the USA. It will provide for design, development and manufacture of automotive bodies and components.
 To be known as the Motor Panels Stamping Company, the facility is to be upgraded in phases to a state-of-the-art, high technology stamping plant offering just-in-time service to customers. It will specifically focus, through the use of quick die change equipment and computer integrated manufacturing systems, on low to medium volume production of medium and large "Class A" cosmetic panels in steel, galvanized steel and aluminum.
 Over the next five years, capital investment in the plant is anticipated to exceed US dollars 12.5 million and will incorporate additional new facilities for employees, including a new employee training area, cafeteria and locker rooms.
 Commenting on the announcement, Gene Denney, president of Motor Panels Inc, said: "Production is expected to begin in the middle of this year following major refurbishment of the plant and equipment. During the next three to five years, employment levels are planned to reach approximately 280 people.
 "Employees will operate in a single status environment in flexible workteams. The operation of the plant will be carried out through a participative style of management involving employees in decision making and in the continuous quality improvement process."
 Shadyside Stamping Plant has 130,000 sq. feet of factory space, with additional room for expansion on its 42 acres of land. The current plant includes four press lines and 25 major presses with capacities up to 1500 tons using 200 inch x 100 inch bed sizes. In its planned modernization, Motor Panels intends to augment these facilities to include the addition of hydraulic presses capable of manufacturing extremely complex vehicle body panels in a variety of materials including aluminum.
 Motor Panels Inc has assembly plants in Kings Mountain, North Carolina and Norwalk, Ohio, as well as a Product Development Center, opened last year, in Farmington Hills, Mich.
 Yesterday, March 8, it was announced that Motor Panels Inc. had received a contract from the Ford Motor Company for a major new development and component manufacturing program.
 It is estimated that this new program could be worth in excess of US dollars 300 million for the long term supply of stampings and sub- assemblies. These components will be manufactured at the new Motor Panels Stamping Co located in Shadyside, Ohio scheduled to open mid 1993.
 -0- 2/9/93
 /CONTACT: Gene Denney of Motor Panels, 419-668 8132, or fax 416-668 1096/


CO: Motor Panels Inc. ST: Ohio IN: AUT SU: TNM

SM -- NY061 -- 4558 03/09/93 13:31 EST
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Publication:PR Newswire
Date:Mar 9, 1993
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