Meridian Announces the Termination of the Memorandum of Understanding to Acquire...

Meridian Announces the Termination of the Memorandum of Understanding to
Acquire Automotive Components Holdings' Sandusky, Ohio Facility

ALLEN PARK, Mich., June 19 /PRNewswire/ -- Meridian Automotive Systems,
Inc. ("Meridian") announced today that the Memorandum of Understanding reached
with Automotive Components Holdings, LLC ("ACH") and Ford Motor Company
("Ford") a year ago is being terminated. The Memorandum of Understanding
("MOU") outlined the terms of Meridian's proposed acquisition of ACH's
Sandusky, Ohio lighting facility. ACH and Ford have notified Meridian that,
because of the significant changes in the overall business environment,
including recent reductions in projected industry volumes, it will not be
possible to sell ACH's lighting business on the terms that Meridian, Ford and
ACH reached in the MOU. Richard E. Newsted, Meridian's President and CEO,
said, "The decision by ACH and Ford to terminate the MOU is understandable,
but is disappointing to all of us. We would reconsider this opportunity
should business conditions improve. Of course, we remain committed to our
lighting customers and will continue to serve them from our world-class
manufacturing facilities located in Grand Rapids, Michigan and Muzquiz,
Coahuila, Mexico."
About Meridian Automotive Systems, Inc.
Meridian Automotive Systems, Inc. is a leading supplier of technologically
advanced front and rear end modules, exterior thermoplastics and composites,
lighting and interior systems to automobile and truck manufacturers and to the
consumer and industrial products market. Meridian operates 19 primary
facilities in the United States, Canada, Mexico and Brazil. For more
information visit www.meridianautosystems.com .
This news release contains forward-looking statements based on current
assumptions and forecasts made by Meridian Automotive Systems management.
Various known and unknown risks, uncertainties and other factors could lead to
material differences between the actual future consolidated results, financial
situation, development or performance of the company, and the estimates given
here. The company assumes no liability to update such forward-looking
statements or to adapt to future events or development.
SOURCE Meridian Automotive Systems, Inc.

Mark P. Decker, Senior Vice President, Human Resources, Meridian Automotive
Systems, +1-313-253-3541