Released on April 23, 2008

Marathon Asset Management LLC, New York, announced it has purchased three diecasting businesses on behalf of its automotive diecasting portfolio company Contech LLC, Portage, Mich.

The acquisition was for certain business lines and assets of three companies in bankruptcy. The first, Lunt Manufacturing, Schaumburg, Ill., is a magnesium diecaster that has in the past won awards for casting excellence from the American Foundry Society and the North American Die Casting Association. Lunt closed its doors on Jan. 18, citing pressures from foreign competition.

The company also purchased Amcan Castings Limited, Hamilton, Ontario, Canada, and Toora Poland S.A., Nisko, Poland, both producers of aluminum die castings. Marathon will retain the companies under its Marathon Automotive Group and continue to supply the automotive and commercial truck markets. Terms of the three transactions were not disclosed.

“The ability of the Marathon Automotive Group and Contech to these [bankruptcy] situations was critical in these transactions, which demonstrate our stated strategy to capitalize on opportunities in the automotive and commercial truck markets at a time when many companies in these sectors are lacking access to capital,” said Wray Thorn, managing director of Marathon’s Private Equity Group. “We believe these transactions will help lay the foundation for further investments as we continue to identify and evaluate opportunities for additional acquisitions.”

Contech supplies cast component to the automotive and light truck markets and also manufactures steel forged automotive components and steel tube fabrications. Marathon acquired the company through the Marathon Automotive Group in 2007.

“We will continue to serve our new and current customers utilizing the company’s existing infrastructure,” said Mark Hunter, Contech president. “From the point of view of our customers, we now have more flexibility with a larger footprint and an increased product offering.”