Press release - Honsel

Press-Information
Closing accomplished:
Martinrea Honsel Germany GmbH commences operations
Meschede, Germany 01.08.2011: Martinrea International Inc., based in
Ontario, Canada purchased the assets of the plants Meschede, Nuttlar and
Soest of the insolvent Honsel AG through its new subsidiary Martinrea
Honsel Germany GmbH.
Nick Orlando, Martinrea’s Chief Executive Officer, stated: “We are happy
to announce the formation of Martinrea Honsel, a leading aluminum parts
supplier to the automotive industry, which we intend to grow and
prosper. It broadens the product offerings and geographic presence of
Martinrea, but also has what we believe is significant growth potential in all
major automotive markets. We live in an industry highly focused on taking
weight out of the vehicle, long a specialty of Martinrea, which helps to
reduce fuel consumption and exhaust emissions, and Martinrea Honsel is
very well positioned to meet the needs of our customers. We welcome the
people from Martinrea Honsel to the Martinrea family, and we look forward
to working with you. We are very impressed with the talent of the people
we have met, so far —there is a tremendous skill set and there is a reason
Honsel was a market leader for so many years. We will work with you to
the best of our abilities to provide you with the opportunity to grow with us
over time.”
Rob Wildeboer, Martinrea’s Executive Chairman, stated: “This is a very
significant transaction for us. The final result of our negotiations is an
accretive transaction of some great assets and excellent people, for a very
reasonable price. We maintain a very strong balance sheet at Martinrea,
but our conservative philosophy is also reflected in the financial strength of
Press contact
Regina Gödde, Dr. Christian P. Eick, Martinrea Honsel Germany GmbH, Fritz-Honsel-Straße 30, 59872 Meschede
Tel +492912918938 +49291291529; Fax +4929129177529; press@martinrea-honsel.com

Martinrea Honsel going in. It is well capitalized with little debt. We and our
partners at Anchorage have provided financial stability to this business,
which will allow Martinrea Honsel to focus on improving operations and
growth, rather than managing a high debt load and the distractions of an
insolvency process. In the course of the transaction, we did enter into an
arrangement with ZF, a major automotive parts supplier in transmissions,
so ZF could acquire the Nuremberg operations. This is a mutually
beneficial transaction. ZF is the major customer of Nuremberg, and from
our perspective the plant was not core to Martinrea Honsel’s future. We
know that the ZF acquisition will be beneficial for both ZF and the
Nuremberg plant and we wish them well. Now we can focus our efforts on
other plants.”
Martinrea also acquired Honsel’s interests in the locations in Spain,
Mexico and Brazil through other subsidiaries.
About Martinrea Honsel Germany GmbH
Martinrea Honsel Germany GmbH is one of the world's leading producers of light-metal
components with primary focus on the automotive industry. The company develops and
manufactures aluminum and magnesium products using the casting, extruding and rolling
processes for engine, transmission, suspension and car body of passenger cars and commercial
vehicles. Additionally, the company supplies products for engineering and other applications.
Components and solutions from Martinrea Honsel reduce vehicle weights, fuel consumption and
emissions, thus contributing to environmental protection. In Meschede, Nuttlar and Soest more than
2.300 employees are located.
Press contact
Regina Gödde, Dr. Christian P. Eick, Martinrea Honsel Germany GmbH, Fritz-Honsel-Straße 30, 59872 Meschede
Tel +492912918938 +49291291529; Fax +4929129177529; press@martinrea-honsel.com