DURA Automotive Systems LLC. Business Report up until FY ended Dec. 2014
Emerged from Chapter 11 and Reorganization
-On June 27, 2008, the Company announced on June 27, 2008 that it has successfully emerged from Chapter 11 bankruptcy protection. The Company officially concluded its Chapter 11 reorganization process after meeting all statutory requirements of its Revised Joint Plan of Reorganization (the "Plan"), including successfully closing their exit financing facilities and filing associated documentation. In conjunction with its emergence, the Company also announced its new board of directors. (From a press release on Jun 27, 2008)
-And in Oct. 2008, the Company would be reorganized into four global product line divisions replacing the current seven regional business units. (Effective Jan. 1, 2009)
1. Cable Systems, headquartered in Michigan, USA., is a producer of light and heavy-duty automotive control cables. This division has operations in Germany, Romania, the Czech Republic, Portugal, United States, Mexico and China.
2. Shifter Systems, headquartered in Dusseldorf, Germany, is a supplier of automatic, manual and shift-by-wire transmission shift systems. This division has operations in Germany, Romania, the Czech Republic, France, Portugal, Russia, United States, India and China.
3. Glass & Trim Systems, headquartered in Michigan, USA., is a provider of automotive exterior trim and glass window systems. This division has operations in Germany, the Czech Republic, United States, Mexico and China.
4. Structural & Safety Systems, headquartered in Plettenberg, Germany, is a supplier of body-in-white and structural components, as well as mechanical safety assemblies. This division has operations in Germany, United Kingdom, the Czech Republic, Slovakia, Spain, Mexico, United States and China.
-In 2009, Patriarch Partners, LLC, which is a U.S.-based investment firm, announced that the Group is going to acquire a majority stake in the Company. Patriarch Partners plans to invest up to 125 million dollars in the Company, taking controlling stake in the independent company. Patriarch is planning to integrate Dura's capabilities and expertise with those of its affiliate, Global Automotive Systems (GAS). The combined companies will operate under the Dura brand name. (From an article in the Nikkan Jidosha Shimbun on Dec. 16, 2009)
-In 2012, Global Automotive Systems (GAS) has announced that its Metal Systems of Canada operations, located in Dundalk, Ontario, has been awarded the Supplier Quality Excellence Award from GM. The Metal Systems of Canada site supplies original equipment products to GM, including rocker panels for crossover and sport utility vehicles. Global Automotive Systems and the Metal Systems of Canada facility operate as part of the Structural Systems Division with affiliate DURA Automotive Systems. (From a press release on December 11, 2012)
-In 2012, the Company announced that its Lawrenceburg plant in Tennessee, the U.S. has received the Silver World Excellence Award from Ford. The Company's plant in Lawrenceburg was awarded this honor for the second consecutive year. The Lawrenceburg facility supplies original equipment window systems for the Ford Mustang Convertible, Expedition, Econoline and F150, as well as the Lincoln Navigator. (From a press release on July 17, 2012)
-In Apr. 2010, the Company announced it won the Automotive News PACE Award in the Product Category for its Heated Power Rear Sliding Window. In addition, the Company also was a joint recipient of PACE Innovative OEM Collaborator Award along with Ford for the work done on this product. The technology is currently available on the Ford "F-150" pickup truck. (From a press release on April 13, 2010)