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Supply-Chain Consolidation in Europe--Oxford + Wagon

Supply-Chain Consolidation in Europe--Oxford + Wagon

Thursday, March 16, 2006
 
Oxford Automotive ApS, Paris, France, has signed a definitive agreement to combine with Wagon plc, Birmingham, England. Oxford supplies modular automotive body structures and mechanisms, including large stampings, fineblanked components and weldments, to the European automotive industry. Wagon manufactures car windows, doors and impact-protection systems. The combination will be accomplished by the exchange of the outstanding Oxford shares for a total of up to 62.15 million Wagon common shares, representing 53.1percent of the combined company's fully diluted common. Herve Guillaume, CEO of Oxford, said, "The combined company will be one of the largest European manufacturers of engineered structures and will have a broad base of technical skills, equipment and manufacturing locations.” Wilbur Ross, the leading shareholder and a director of Oxford, added, "We expect the enlarged group to be among the five largest in the European industry. This transaction is therefore another important step toward the consolidation of the auto supply industry."

 

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