The Renco Group Completes Acquisition of Delphi's Global Interiors and Closures Businesses

NEW YORK, March 10 /PRNewswire/ -- The Renco Group, Inc. today announced that its wholly owned subsidiary, Inteva Products, LLC, has completed the acquisition of Delphi's Global Interiors and Closures businesses from Delphi Corporation. The transaction includes the entire book of business, manufacturing operations, intellectual property, supplier contracts and joint venture interests.

Under the terms of the transaction, Delphi's Global Interiors and Closures businesses and talented workforce will now become part of Inteva. Inteva is an engineering, manufacturing powerhouse serving customers around the world with innovative interior and closure solutions for vehicles ranging from entry level compacts and luxury sedans to pick-ups and massive commercial vehicles. With 17 facilities on three continents, Inteva brings more than 90 years of product experience and expertise to customers while delivering flawless execution and superior engineering.

Ira Rennert, Founder and Chief Executive Officer of Renco, commented, "Under the strong leadership team led by Inteva CEO Lon Offenbacher, we are excited by the opportunity this acquisition has presented to invest in a low cost automotive supplier with global growth opportunities. Inteva's engineering, design and manufacturing capabilities and global footprint position the company well for long term profitable growth."

Concurrent with the acquisition, Inteva had obtained a new Senior Credit Facility arranged by Wachovia Capital Markets, LLC and Bank of America Securities, LLC with Wachovia Bank, National Association as Administrative Agent.

About The Renco Group, Inc.

The Renco Group, Inc. is a private diversified investment holding company with a broad portfolio of operating companies and financial investments. Renco holds interests in a number of companies in the mining, automotive, magnesium, steel, metals fabrication and material handling industries. Operating companies in which Renco holds an interest include AM General, Doe Run Resources, US Magnesium, Inteva Products LLC, Unarco Material Handling and Baron Drawn Steel. Renco generates in excess of $5.5 billion in revenue while employing over 12,000 people worldwide.

About Inteva Products, LLC

Inteva Products, LLC has more than 90 years of experience and expertise, empowering some of the best automotive minds in the industry with global resources supported by more than 3,800 team members in 17 facilities on three continents. Inteva designs, engineers, manufactures, and assembles Instrument Panels, Consoles, Door Trim, Cockpits, Door Module and Window Lift Systems, Closure Systems and Advanced Development Solutions for leading OEMs around the globe. Inteva's integration capabilities provide everything from small component parts to fully integrated vehicle subsystems. Inteva is committed to execute to the highest level possible for all customers to create solutions that meet quality and technical specifications while remaining on time and on budget. For more information visit http://www.intevaproducts.com. Insight. Inside. Inteva.

Contact:

Chris Mittendorf, +1-212-704-8134, for The Renco Group, Inc.