Press Release:

 

International Automotive Components Acquires Collins & Aikman Brazil

New York, April 13, 2006 – International Automotive Components Group Brazil, a joint venture between WL Ross & Co. LLC and Franklin Mutual Advisers, LLC, announced today that it has completed the acquisition of a controlling stake in the Brazilian operations of Collins & Aikman, including 100% of the equity interests in Permali do Brazil Indústria e Comércio Ltda. (“Permali”), and approximately $48.2mm of inter-company loans (including accrued interest), to Plascar Indústria de Componentes Plásticos Ltda. (“Plascar Ltda”).

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