GE Commercial Finance Corporate Lending will lead a $110 million credit facility reorganization plan for DURA Automotive Systems Inc., a leading auto parts supplier. The financing will help complete DURA’s reorganization as it emerges from bankruptcy. In 2006, GE also provided the company with a $115 million debtor-in-possession credit facility to support the company’s Chapter 11 filing.
Based in Rochester Hills, MI, DURA, is an independent designer and manufacturer of auto parts to the automotive industry worldwide. Their products include driver control systems, seating control systems, glass systems, structural door modules and exterior trim systems. “Decreasing market demand, a change in the types of vehicles being sold and rising raw material prices are making this a tougher market for auto suppliers,” says Beth Brockmann, automotive industry leader for GE Corporate Lending. “However, suppliers with strong technology and solid balance sheets should be able to endure this transitionary period and ultimately benefit from a stronger market environment.” “Leveraging our auto industry expertise and restructuring specialization helped provide DURA with smarter capital,” says Tom Quindlen, chairman and CEO of GE Corporate Lending. “We continue to work closely with clients through good and challenging times to provide them with the capital they require to meet their business objectives.” GE Corporate Lending has a team of industry experts help build smarter financing solutions for companies across key industries including automotive and transportion. For more information, visit GE Corporate Lending online. | 
