Commercial Vehicle Group Announces Acquisition of India Seating Business

Commercial Vehicle Group Announces Acquisition of India Seating Business PR Newswire NEW ALBANY, Ohio, Nov. 5, 2012 NEW ALBANY, Ohio, Nov. 5, 2012 /PRNewswire/ -- Commercial Vehicle Group, Inc. (Nasdaq: CVGI) announced today that its company in India, CVG Seating (India) Private Limited (CVG India), has acquired substantially all of the seat assembly assets of Vijayjyot Seats Private Limited (Vijayjyot). The acquired business has three leased facilities in the Baska (State of Gujarat), Pune (State of Maharashtra) and Dharwad (State of Karnataka) regions of India and employs approximately 108 full time associates in addition to certain temporary workers at each of the three facilities. The acquired business supplies seats primarily for the passenger, school and coach bus markets in India and its top four customers include Tata Motors, Tata Marcopolo, Ashok Leyland and Volvo/Eicher. "This acquisition is an ideal match for our strategic plan of growth and expansion into the India commercial vehicle market and complements our existing initiatives in the construction and truck markets of India," said Mervin Dunn, President and Chief Executive Officer of Commercial Vehicle Group. "We look forward to working with the employees, customers and suppliers as we move forward with this exciting new opportunity," added Mr. Dunn.