EXHIBIT 99.1
LDM TECHNOLOGIES, INC.
ANNOUNCES AMENDMENT TO EXCHANGE OFFER FOR ITS 10.75%
SENIOR SUBORDINATED NOTES DUE 2007
Auburn Hills, Michigan, July 2, 2002 - LDM Technologies, Inc. (the "Company" or
"LDM") today announced that it has extended the expiration date for its exchange
offer (the "Exchange Offer") for any and all $110 million in outstanding
principal amount of its 10.75% senior subordinated notes due 2007 (144A - CUSIP
No. 50182PAC3) (the "Old Notes").
The expiration date for the Exchange Offer has been extended from 11:59 p.m.,
New York City time, on July 2, 2002 to 11:59 p.m., New York City time, on July
16, 2002, unless further extended. As of 3:00 p.m. July 2, 2002, the Company had
received no additional tenders from holders of the Old Notes outstanding.
The complete terms of the Exchange Offer are contained in the Offering
Memorandum dated May 6, 2002 and the Supplements No. 1 and 2 thereto dated June
12, 2002 and July 2, 2002, respectively.
Supplement No. 2 dated July 2, 2002 amends the consideration offered to holders.
The Company is now offering to exchange $850 principal amount of new 11 3/4%
Senior Notes due 2007 (the "New Notes") and $10.00 cash for each $1,000
principal amount of the Old Notes. Other than the increased consideration, all
other terms remain identical to the original offer as amended by Supplement No.
1.
Holders may withdraw their tenders of Old Notes at any time prior to the
expiration date. Holders of Old Notes who have previously validly tendered (and
not properly withdrawn) their Old Notes therewith pursuant to the terms set
forth in the Exchange Offer need not take any further action to tender their Old
Notes.
The New Notes offered in the Exchange Offer will not, upon issuance, be
registered under the Securities Act of 1933, as amended, and will only be
offered in the U.S. to qualified institutional buyers and institutional
accredited investors in a private transaction, and outside the U.S. to persons
other than U.S. person in offshore transactions. The Company will enter into a
registration rights agreement pursuant to which it will agree to file an
Exchange Offer registration statement with the SEC with respect to the new
notes.
Informational documents relating to the Exchange Offer will only be distributed
to eligible investors who complete or have completed and returned an Eligibility
Letter. The Eligibility Letter has already been sent to investors in a general
distribution. If you would like to receive this Eligibility Letter, please
contact Tom Long at D.F. King & Co., the Information Agent for the Exchange
Offer, at (212) 493-6920.
The Company, from time to time, may make written or oral statements containing
forward-looking information within the meaning of the Private Securities
Litigation Reform Act of 1995. When used, the words "anticipate," "believe,"
"estimate" and "expect" and similar expressions are generally intended to
identify forward-looking statements. Readers are cautioned that any
forward-looking statements, including statements regarding the intent, belief or
current expectations of the Company or its management, are not guarantees of
future performance and involve risks and uncertainties, and that the actual
results may differ materially from those in the forward-looking statements as a
result of various factors including, but not limited to: (i) general economic
conditions in the markets in which the Company operates or will operate; (ii)
fluctuations in worldwide or regional automobile and light and heavy truck
production; (iii) labor disputes involving the Company or its significant
customers or suppliers; (iv) changes in practices and/or policies of the
Company's significant customers toward outsourcing automotive components and
systems; (v) foreign currency and exchange fluctuations; and (vi) other risks
detailed from time to time in the Company's filings with the Securities and
Exchange Commission. The Company does not intend to update these forward-looking
statements.
Contact: Brad Frederick, LDM Technologies Inc. (248) 858-2800