SCHILTACH, Germany -- BBS International GmbH, a Germany-based subsidiary of Punch International that produces lightweight wheels for sports and passenger cars, has acquired the Hoboken, Belgium, subsidiary of Hayes Lemmerz International, a global supplier of automotive and commercial highway wheels.

Under the agreement, BBS has acquired all of the outstanding shares of stock of Hayes Lemmerz Belgie B.V.B.A., including its factory based in Hoboken (near Antwerp, Belgium). The Hoboken factory produces cast aluminum wheels for passenger cars and currently employs approximately 315 people.

In addition, Punch Property International, the property investment company of the Punch group, has entered into a definitive agreement with Hayes Lemmerz International - Georgia, Inc. to purchase the real estate and certain equipment of this Hayes Lemmerz subsidiary located in Gainesville, Ga. This acquisition is expected to be completed following cessation of Hayes Lemmerz' production at the Gainesville factory. Last month, Hayes Lemmerz announced that it would close its factory in Gainesville by the end of December 2008.

The Gainesville factory is situated less than 15 miles from the BBS factory in Braselton. BBS will use the factory as its production plant to support its non-OEM activities in the U.S.

For more information, visit: http://www.hayes-lemmerz.com.