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Dura Automotive puts division up for sale

Brent Snavely From| May 04,2007

Dura Automotive Systems Inc. said today that it has put its Atwood Mobile Products, a division with $330 million in annual sales, up for sale.

Elkhart, Ind.-based Atwood makes windows, doors, specialty glass, hardware appliances and electronics for the recreational vehicle and manufactured-housing industries.

Investment banking firm Miller Buckfire & Co. L.L.C. is Dura's exclusive financial advisor. Dura said Miller Buckfire plans to solicit bids and will evaluate whether or not Dura should sell or keep the division.

Founded in 1909, Atwood was acquired by automotive supplier Excel Industries, and was then acquired by Dura in 1999. Dura filed for Chapter 11 bankruptcy October 30 in U.S. Bankruptcy Court in Delaware.

Dura, of Rochester Hills, Mich., is a manufacturer of driver control systems, seating control systems and structural door modules for the automotive industry. It ranked No. 48 on the Automotive News list of top 150 original equipment suppliers to North America with original equipment sales of $1.08 billion in fiscal year 2006.

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