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Offer of Interest Declined
TORONTO - December 20, 2006
Automodular Corporation ("Automodular") advises that its board has reviewed and considered the materials and proposals submitted in connection with the unsolicited and non-binding conditional expression of interest received on December 12, 2006 from a major automotive parts supplier. The Automodular board has also met with representatives of the aforementioned supplier to discuss the plans and proposals respecting Automodular.
Automodular advises that it has declined to proceed with the proposed combination and subsequent offer on the basis that it would not be in the best interests of the Corporation or its shareholders at this time.
Automodular Corporation is a supplier of sub-assembly, sequencing, transportation and logistics services to six Original Equipment Manufacturer plants in Ontario, Michigan and Ohio. The Company has six operating facilities and employs over 800 people.
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