FARMINGTON HILLS, MI -- GDX Automotive today announced the closing of its acquisition of the SaarGummi operations in Quebec, Canada and Mexico. The acquisition includes ongoing business in vehicle sealing, glass encapsulation and molded rubber product segments, totaling approximately $80 million in annual revenues. Terms of the transaction were not disclosed.

"The purchase of the SaarGummi operations will immediately strengthen GDX relationships with General Motors, Volkswagen, DaimlerChrysler and Ford, while giving us a new platform in Mexico to grow with all our global customers," said GDX Automotive Chairman and CEO Morris Rowlett. "This acquisition, the second venture announced since February, also signals a GDX commitment to play a leading role in the restructuring of our industry."

Current SaarGummi operations in Canada and Mexico include six facilities with approximately 1,000 employees.

GDX Automotive manufactures highly engineered sealing systems for automotive applications.

For more information about GDX Automotive, go to: www.gdxautomotive.com.

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