Hayes Lemmerz Completes Sale of Its Cadillac, MI Foundry

NORTHVILLE, Mich., Dec. 6  /PRNewswire-FirstCall/ -- Hayes Lemmerz International, Inc. (NASDAQ:HAYZ) today announced the sale of Hayes Lemmerz International - Cadillac, Inc., a wholly-owned subsidiary that operates its Cadillac, Michigan facility, to a group of private investors.  The company will be renamed Cadillac Casting, Inc.

Under the agreement announced today, the investors have acquired all of the outstanding shares of stock of the subsidiary.  Financial terms of the transaction were not disclosed.

The Cadillac, Michigan facility is a ductile iron foundry which makes engine exhaust manifolds, steering knuckles, and other cast components. Annual sales for this operation are approximately $60 million and it employs about 400 people.  Cadillac Casting, Inc. will continue to supply castings to certain Hayes Lemmerz machining facilities, and other customers.

Curtis Clawson, President, CEO and Chairman of the Board, commented, "The sale reflects continued progress in Hayes Lemmerz' plan to increase the focus on core products in select geographic areas.  We are proud of the efforts of the highly-capable employees in Cadillac, and we are confident that they will be a valuable addition to the buyer."

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 36 facilities and over 10,000 employees worldwide.

This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, which represent the Company's expectations and beliefs concerning future events that involve risks and uncertainties which could cause actual results to differ materially from those currently anticipated.  All statements other than statements of historical facts included in this release are forward looking statements.  Factors that could cause actual results to differ materially from those expressed or implied in such forward looking statements include the factors set forth in our periodic reports filed with the SEC.  Consequently, all of the forward looking statements made in this press release are qualified by these and other factors, risks, and uncertainties. 

DATASOURCE: Hayes Lemmerz International, Inc.



CONTACT:  Marika P. Diamond of Hayes Lemmerz International, Inc.,

[phone]



Web site:  http://www.hayes-lemmerz.com/ 

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