HAYZ Hayes Lemmerz International (MM)

Hayes Lemmerz Forms Strategic Joint Venture in Turkey NORTHVILLE, Mich., Aug. 9 /PRNewswire-FirstCall/ -- Hayes Lemmerz International, Inc. (NASDAQ:HAYZ) today announced that it formed an aluminum wheel joint venture with operations in Manisa, Turkey. The new joint venture, Jantas Aliminyum Jant Sanayi ve Ticaret A.S. (a.k.a. Jantas Aluminum Wheels), will serve the Turkish and other European markets. The joint venture is expected to begin production at the end of 2005 and to produce up to 1.5 million wheels annually. The joint venture will be owned 40 percent by Hayes Lemmerz, 35 percent by Cromodora Wheels S.p.A and 25 percent by Inci Holding A.S. Financial terms of the joint venture were not disclosed. "It is important to team with the right partners. Our business ventures with Inci date back to 1992," said Fred Bentley, President of Hayes Lemmerz' International Wheel Group. "This joint venture will benefit from the technical know how of both Hayes Lemmerz and Cromodora to establish a manufacturing process based on the most advanced techniques." "This joint venture will strategically expand our capabilities beyond Hayes Lemmerz' existing wheel operations in Turkey. Geographic expansion is critical to Hayes Lemmerz because it enables us to support our customers as they grow in the developing markets of the World. As part of this strategy, in 2004 we will complete aluminum wheel plant expansions in Thailand, Brazil and the Czech Republic," said Mr. Bentley. Hayes Lemmerz International, Inc. is a leading global supplier of automotive and commercial highway wheels, brakes, powertrain, suspension, structural and other lightweight components. The Company has 44 plants and approximately 11,000 employees worldwide. Cromodora Wheels S.p.A., with headquarters in Italy, is a supplier of specialty and premium aluminum wheels to the OEM market. Inci Holding is one of the major Groups in Turkey, operating in automotive, logistics, insurance, construction, and white goods sectors. The Group has 17 companies and joint ventures, employing 1500 people. DATASOURCE: Hayes Lemmerz International, Inc. CONTACT: Marika P. Diamond of Hayes Lemmerz International, Inc., +1-734-737-5162 Web site: http://www.hayes-lemmerz.com/

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