GST AutoLeather Exits Bankruptcy Under New Ownership

"We are committed to being the most competitive, innovative, and sought-after supplier to major OEMs worldwide, leveraging our strong customer service, a renewed focus on lean manufacturing and standardization, and care for our employees as we instill a customer and operationally focused leadership culture," said Mr. Johnson.

Mr. Johnson replaces former CEO Dennis Hiller, who will stay on with the leather company as a board advisor to assist in the transition. Mr. Johnson most recently served as CEO of Romeo RIM, Inc. a Michigan-based composites manufacturer where he transformed that business and its brand through lean and innovation processes.  Prior to that, Mr. Johnson served as Vice President of Global Operations at Eagle Ottawa for 12 years, leaving in 2014 before its sale to Lear Corporation.  At Eagle Ottawa, Mr. Johnson was the architect of the operational transformation resulting in years of best-in-class competitive performance and a stable world class manufacturing team.

Post Chapter 11 exit, GST is majority owned by funds managed by Black Diamond Capital Management, L.L.C. ("BDCM"), which has a track record of assisting companies in growing value by focusing on operational and commercial improvements through a disciplined long-term approach.  "We are looking forward to supporting GST's future efforts to build upon its strong global market share with a keen focus on providing top customer service while enhancing its operations," said Stephen H. Deckoff, Managing Principal of BDCM.

"GST has exited bankruptcy with a strong balance sheet and ample liquidity, talented leaders globally, and a reputation as a high-quality leather designer and manufacturer," Johnson said, adding, "GST is among a small group of leather suppliers that can be considered truly global in nature."

ABOUT GST AUTOLEATHER

GST AutoLeather is the global leader in automotive leather components, with innovative design and engineering supporting the future vision of the OEM customers worldwide. The Company's talented team of employees, its global operations and its customer-centric leadership culture enables GST to continue to build strong relationships with customers based on trust and transparency.

SOURCE GST AutoLeather