DURA Automotive Restructures; Horn to Lead Glass Division
DURA Automotive Systems Inc. has announced that it will restructure the company into four global business units, one of which will focus on glass and trim systems, effective January 9, 2009. Tim Horn, who previously served as vice president and general manager of Body and Glass North America, will now serve as vice president of the company's glass and trim systems division. The division will be headquartered in Rochester Hills, Mich., where Dura is based.
The other three divisions will focus on cable systems, shifter systems and structural and safety systems.
In addition, DURA announced several other significant corporate events, including $1 billion in new business awards and the planned filing timeline of its regulatory financial information.
"Macro-economic conditions affecting the global automotive industry have dramatically altered the way automotive suppliers need to do business around the world," says Tim Leuliette, appointed DURA's president and chief executive officer on July 17, 2008, following the company's emergence from Chapter 11 reorganization. "Today's announcement of our move away from a regional structure into four global business units will further enhance our efficiency and ability to compete as one global company. We are confident these actions will strengthen our ability to serve our worldwide customers and grow our business. DURA is now a lean, globally balanced technology leader."
Dura recently emerged from Chapter 11 reorganization and, by the end of 2008, the company expects to complete the last of its previously announced plans to close or exit 16 manufacturing facilities worldwide.
DURA's four operating divisions supply Aston Martin, Audi, Bentley, BMW, Brilliance, Chery, Chrysler, Daimler, Fiat, Ford, General Motors, Honda, Jaguar, Land Rover, Mahindra, NedCar, NUMMI, Porsche, PSA Peugeot Citroen, Renault-Nissan, SAIC, Ssangyong, Tata, Toyota and Volkswagen.
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