| Noble International Ltd. | |||
| Ticker: | NIL | 33 Bloomfield Hills Parkway, Suite 155 | |
| Exchange: | American Stock Exchange | Bloomfield, MI 48304 | |
| Industry: | Manufacturing (SIC Code 3714) | (810) 433-3093 | |
| # of Employees: | 444 | ||
| Type of Shares: | Common Shares | Filing Date: | 5/14/97 | |
| U.S. Shares: | 3,300,000 | Offer Date: | 11/18/97 | |
| Non-U.S. Shares: | 0 | Filing Range: | $8.00 - $10.00 | |
| Primary Shares: | 3,300,000 | Offer Price: | $9.00 | |
| Secondary Shares: | 0 | Gross Spread: | $0.63 | |
| Offering Amount: | $29,700,000 | Selling: | $0.38 | |
| Expenses: | - | Reallowance: | $0.10 | |
| Shares Out After: | - |
| Manager | Tier | Phone |
| Bluestone Capital Partners, L.P. | Lead Manager | (212) 850-9428 |
| Rodman & Renshaw, Inc. | Co-manager | (212) 416-7333 |
| Issuer's Law Firm: | Bruck & Perry |
| Bank's Law Firm: | Proskauer Rose Goetz & Mendelsohn |
| Auditor: | Grant Thornton |
Dollar amounts in U.S. millions except for per share data | |||||
| Full Year Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/96 | 12/31/96 | ||||
| Revenue: | $16.19 | Assets: | $1.78 | ||
| Net Income: | $0.07 | Curr Assets: | $1.33 | ||
| EPS: | $6.02 | Liabilities: | $1.16 | ||
| Prior EPS: | $51.09 | Curr Liabilities: | $0.98 | ||
| Cash Flow/Oper: | $1.03 | Equity: | $0.62 | ||
| Cash Flow/Fin: | Cash: | $0.47 | |||
| Cash Flow/Inv: | -$5.78 | Working Cap: | $0.35 | ||
| Business Description |
| The company is a diversified automotive component supplier which manufactures a variety of components an dprovides design, planning, engineering, assembly and value-added processing services to original equipment manufacturers. Management has made six recent acquisitions in order to obtain design, engineering, manufacturing and assembly capabilities in an effort to achieve the company's goal of becoming a full service supplier of automotive assemblies and integrated systems. The company has entered into a definitive agreement to acquire all of the outstanding capital stock of Utilase, a leading producer of laser-welded tailored blanks for the automotive industry. The company's other operations include: (I) designing, engineering and assembling automotbile glovebox latches under the brand name Prestolock; manufacturing automotive components utilizing progressing die stampings; painting and coating automotive components; providing other value added services such as welding, cutting and drilling, prototyping and mold design and construction; and the distribution of components used in machine tools and other industrial equipment. |
| Competition |
| Both the automotive component supply and tooling component industries are highly competitive. Competition in the sale of all of the company's products is primarily based on engineering, product design, process capability, quality, cost, delivery and responsiveness. The company believes that its performance record in these respects places it in a strong competitive position. Many of the company's competitors are companies, or divisions or subsidiaries of companies, that are larger and have greater financial and other resources than the company. In addition, with respect to certain of its products, some of the company's competitors, such as GM/Delphi, are divisions of its OEM customers. There can be no assurance that the company's products will be able to compete successfully with the products of these other companies. |
| Business Plan |
| The company's objective is to become a full-service supplier of automotive assemblies and integrated systems by capitalizing on the continuing trend toward supplier consolidation. The key element of the company's strategic plan is the identification of new ways to assist OEMs and Tier I suppliers in meeting their out-souring needs. The company intends to implement it strategic plan through the adoption of a systems approach, the acquisition of new technologies and the pursuit of opportunistic acquisitions. The company believes that implementation of its plan should result in both increased sales volumes and model penetration with existing customers and the creation of new business. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to pay the cash portion of its purchase of Utilase, Inc., payments in connection with the UPP, Vasser and Monroe Acquisitions, reduction of financial institution debt, capital expenditures and repayment of a shareholder loan. |
| Name of Shareholder | % Owned Before | % Owned After |
| Bert J. Skandalaris | 80.26% | |
| Chard G. Skandalaris | 6.06% | |
| Niel J. Brunell | 5.19% | |
| Mes D. Skandalaris | 5.19% |
| Officer Name | Title | Age |
| Chael C. Azar | General Counsel, Secretary and Director | 33 |
| Bert J. Skandalaris | President, Chief Executive Officer and Director | 44 |
| Chard V. Balgenorth | Treasurer, Chief Financial Officer and Director | 49 |