SCHILTACH, Germany, June 16 /PRNewswire-FirstCall/ -- BBS International GmbH ('BBS'), German world-leading firm in the development and production of lightweight wheels for sports and passenger cars in the premium segment and a subsidiary of Punch International nv ('Punch'), a diversified industrial holding company with its head office in Sint-Martens-Latem (Belgium), today announced that it has acquired the Hoboken, Belgium subsidiary of Hayes Lemmerz International, Inc. ('Hayes Lemmerz'). Hayes Lemmerz is a world- leading global supplier of automotive and commercial highway wheels. Under the agreement announced today, 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 aluminium wheels for passenger cars and currently employs approximately 315 people. In addition, Punch Property International nv ('Punch Property'), 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, Georgia, USA. 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, Georgia 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 USA. The purchase price of the transactions was not material to either party. "With the dollar being weak, our customers operating in the USA obviously want to source their wheels from local suppliers. For us, this is an economical and efficient way to serve our customers not only in Germany, but also in the USA. BBS's long term focus is on the premium segment which is dominated by lightweight technologies such as flow-forming and forging," said Guido Dumarey, CEO at Punch. Curtis Clawson, President, CEO and Chairman of the Board of Hayes Lemmerz International, Inc. commented, "The Hoboken and Gainesville divestitures reflect continued progress in Hayes Lemmerz' overall strategy to reduce costs, realign capacity and increase the focus on leading-cost, high-growth regions." About Hayes Lemmerz Hayes Lemmerz International, Inc. is a world leading global supplier of automotive and commercial highway wheels. Hayes Lemmerz has 23 facilities and over 7,000 employees worldwide. More information can be found at www.hayes-lemmerz.com. About Punch International Founded in 1982, Punch has since grown to become a diversified industrial holding company. Punch seeks to achieve long term capital growth by acquiring majority stakes in a varied portfolio of companies with a view to unlocking implicit value. Acting as a catalyst of proven and potentially successful technologies, Punch provides the necessary funds to realise their commercial breakthrough. As a consolidator, Punch focuses on gaining critical mass in order to establish a leading market position in the segments in which it operates. Punch is actively involved in the management of its investments, seeking to leverage each subsidiary's operational, commercial and financial performance in order to maximise shareholder value. 'Punch, unlocking value.' For 2007 Punch achieved sales of 331.7 million euros and a net profit of 28.5 million euros. Punch has been listed on Euronext Brussels since 1999 .
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