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N-K Manufacturing Signs JV with Mexican Manufacturer

Grand Rapids, Michigan

N-K Manufacturing Technologies, Inc. announced that it has established a joint venture with a Mexican manufacturer to produce automotive components.

The Grand Rapids, Michigan custom molder of plastics, which is part of Nicholas Plastics, Inc., signed the agreement with Monterrey-based Industrias Gesta. The new entity, N-K Industrias Gesta, will manufacture and assemble plastic components for the automotive and other industries beginning in the second quarter of this year. N-K expects the new venture will increase sales by 10 percent during 2003.

“We are pleased to establish this joint venture with Industrias Gesta, which is a well-respected, family-owned operation located in the industrial heart of Mexico,” said Armen Kassouni, vice president of N-K Manufacturing. “This agreement will allow us to better serve our customers’ needs throughout North America.

“The automotive industry expects an increasingly global presence from its suppliers. This agreement is a continuation of our strategic efforts to expand our global reach, and we look forward to establishing a solid and long-lasting relationship with Industrias Gesta.”

Industrias Gesta specializes in injection molding, metal stamping, paint and assembly work for a wide variety of industries, including automotive, heavy-duty batteries, consumer appliances and decorative applications. The company owns and operates presses ranging from 30-ton to 1100-ton at its 67,000 square-foot facility in Monterrey. It is both ISO 9002 and QS 9000 certified.

“We are excited to partner with N-K Manufacturing to help them deliver quality components to their customers,” said Hernan Belden, general manager of Industrias Gesta. “This venture will give us greater access to the automotive market in Detroit and beyond, allowing us to expand our reach in a very key industry. We look forward to establishing a mutually beneficial relationship with N-K Manufacturing.”

N-K Industrias Gesta will initially produce and assemble a number of products for automotive customers located in Mexico. Kassouni said that these products, which are currently being produced in Grand Rapids, are light and susceptible to damage in transit. Allowing N-K Industrias Gesta to build these products will minimize the damage that occurs during shipping and improve overall operational efficiency.

“Moving this work closer to our existing customers makes good sense,” Kassouni said. “At the same time, the freed-up capacity in our Grand Rapids operation is now available for new work slated to begin this fall for customers located within the tri-state area.

“Additionally, our new relationship with Industrias Gesta will allow us to expand into non-automotive markets in Mexico by tapping on its well-established relationships.”

About N-K Manufacturing Technologies

N-K Manufacturing Technologies is a custom molder of plastics specializing in multi-shot, insert and over-molding technologies for the automotive and other industries. N-K is part of the Nicholas Plastics Group, which is a single-source, vertically integrated, value-added provider of plastic solutions for the automotive, office furniture, appliance and related industries. Headquartered in Grand Rapids, Michigan, the Nicholas Group has manufacturing facilities in Allendale and Grand Rapids, and a technical sales and design center in Troy.

About Industrias Gesta

Industrias Gesta offers complete solutions to clients in Mexico and the United States through the outsourcing of plastics injection molding and secondary operations, such as metal stamping, painting and assembly of components. The company utilizes a broad portfolio of equipment ranging from 30 to 1,100 tons of injection capacity and is both ISO-9002 and QS-9000 certified. Industrias Gesta is strategically located in Santa Catarina, Mexico, a suburb of Mexico's industrial capital, Monterrey that is a two-hour drive from Texas. For more information, visit www.industriasgesta.com.

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N-K Manufacturing Technologies LLC
1134 Freeman SW - Grand Rapids, Michigan USA 49503
Tele: (616) 248-3200
Fax: (616) 248-3246
Email: custserv@nkmfgtech.com