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Last updated on April 16, 2014 at 7:25 EDT

Meridian Announces the Sale of Certain Operating Units of Their Bumper Systems Business

July 9, 2009

ALLEN PARK, Mich., July 9 /PRNewswire/ – Meridian Automotive Systems, Inc. (“Meridian”) announced today that they have reached an agreement with affiliates of Flex N Gate, LLC (“Flex N Gate”), whereby Flex N Gate has, effective as of July 7, 2009, acquired elements of Meridian’s Bumper Systems business. Flex N Gate has acquired, or assumed certain leases of, Meridian’s Bumper Systems business and facilities located in Fowlerville, Grand Rapids and Ionia, Michigan and Angola, Indiana. Terms of the transaction are not being disclosed.

Richard E. Newsted, Meridian’s President and CEO, said, “Meridian’s Bumper Systems operations are world-class, with high quality management and associates, with excellent customer relations. The combination of our selected operations with Flex N Gate’s already strong manufacturing footprint will help create a leaner supply base for our customers and provide sustained employment opportunities for a significant number of our employees.”

This news release contains forward-looking statements based on current assumptions and forecasts made by the company’s management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future consolidated results, financial situation, development or performance of the company, and the estimates given here. The company assumes no liability to update such forward-looking statements or to adapt to future events or development.

SOURCE Meridian Automotive Systems, Inc.


Source: newswire