Michel Thierry Group, a global manufacturer of textiles for the automotive industry, has signed a conditional agreement to acquire Fezko A.S, a fast growing automotive textile producer based in Central Europe

France 21 May (PROTEXT) - On May 14th, 2008 Michel Thierry agreed withStark B.V., owner of Fezko A.S., to acquire the company. Subject to closingconditions, including regulatory approval, the transaction is expected tocomplete over the course of the summer 2008. Following completion, StarkB.V. has the option to become a minority shareholder in Michel ThierryGroup.

The new group, with many of the major car manufacturers in the world as itscustomers, will have combined revenues of approximately €300 million perannum.

"Further to our successful establishment in Mexico, Turkey and Russia, theacquisition of Fezko a.s. is an essential step for the deployment of MichelThierry Group’s strategy," said Hervé Guillaume, President of the Board ofthe Michel Thierry Group. "It is an opportunity to enlarge its customerportfolio, to reinforce its footprint in Central Europe and to develop itsproduct offer. The group will benefit from the joint expertise of thepeople of Fezko and Michel Thierry to become the benchmark in theautomotive textile industry."

"The merger between Michel Thierry and Fezko A.S. will create a leader inthe automotive textile industry. Based on strategic and cultural fit we areconfident that the combination of these two organisations will lead tosignificant benefits and high added value for car manufacturers, employeesand shareholders. We are confident in the potential of the new group andare looking forward to actively participate in its future development,"said Mikael Ahlström, Director of Stark B.V.

Michel Thierry Group:

Michel Thierry Group, founded in 1955 in France, is a leading manufacturerof textile and leather interiors for the automotive industry. The privatelyowned company is controlled by a group of shareholders led by Deutsche Bankand Matlin Patterson. The company has approximately 1,200 employees andoperates in 12 countries on 3 continents. For the year to 30th of June2007, the group generated turnover of €182 million.

Fezko A.S.:

FEZKO a.s., with manufacturing facilities in Strakonice, Czech Republic,and in Žilina, Slovakia, is the premier low-cost supplier of automotivetextiles in Central Europe. The company was established as a manufacturerof hats in 1812 and operated as a textile company over 150 years before. In1998, when the Company was bought by Stark B.V., Fezko started itstransformation into a modern and focused automotive textile supplier. Overthe past five years, production has more than doubled. The company hasapproximately 600 employees and 2007 group turnover was €55 million.

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