These transactions will make DURA
one of the least-leveraged suppliers in the auto industry, expand our North American footprint and give us greater access to capital.
Within 60 days after that, DURA
expects to complete its 2007 statutory filing in relevant jurisdictions and to file its 2008 first quarter 10Q.
and GAS combined are leading independent designers and manufacturers of driver control systems, seating control systems, glass systems, engineered assemblies, DURA
Automotive structural components, structural door modules and exterior trim systems for the global automotive industry.
Effective immediately, Dura
is responsible for the sales and marketing of these five products," added Robert S.
The transaction, which has been unanimously approved by the Board of Directors of both companies, is subject to regulatory approvals, approval by Dura
stockholders and customary closing conditions, and is expected to close late in the fourth quarter of this year.
David is a seasoned automotive industry executive who will be a great asset to our leadership team," said Larry Denton, chairman and chief executive officer of DURA
As part of the strategy to enhance stockholder value, Dura
will, upon the successful acquisition of Spiros Development Corporation II, Inc.
deals, with a total portfolio notional exposure to Dura
of more than EUR2.
Except for the historical and factual information contained herein, the matters discussed in this press release regarding Dura
or its business may contain forward-looking statements which involve risks and uncertainties, including the effectiveness of our sales forces in promoting our products, difficulties we may encounter in launching new products, our dependence on third parties for manufacturing and development, the competitiveness of the pharmaceutical industry, and other risks detailed from time to time in Dura
's filings with the Securities and Exchange Commission.
Granted a stay of all proceedings in Canada against DURA
and its U.
The development of the new inhalers and technology is ongoing with a goal for Dura
to initiate a human clinical study to confirm the in vivo performance of the technology in late 2000.
In addition, DURA
filed an amended affidavit today to reflect its company-wide cash position of $75.