Commercial Vehicle Group Announces Acquisition of India Seating Business

   Commercial Vehicle Group Announces Acquisition of India Seating Business

  PR Newswire

  NEW ALBANY, Ohio, Nov. 5, 2012

NEW ALBANY, Ohio, Nov. 5, 2012 /PRNewswire/ --Commercial Vehicle Group, Inc.
(Nasdaq: CVGI) announced today that its company in India, CVG Seating (India)
Private Limited (CVG India), has acquired substantially all of the seat
assembly assets of Vijayjyot Seats Private Limited (Vijayjyot). The acquired
business has three leased facilities in the Baska (State of Gujarat), Pune
(State of Maharashtra) and Dharwad (State of Karnataka) regions of India and
employs approximately 108 full time associates in addition to certain
temporary workers at each of the three facilities.

The acquired business supplies seats primarily for the passenger, school and
coach bus markets in India and its top four customers include Tata Motors,
Tata Marcopolo, Ashok Leyland and Volvo/Eicher.

"This acquisition is an ideal match for our strategic plan of growth and
expansion into the India commercial vehicle market and complements our
existing initiatives in the construction and truck markets of India," said
Mervin Dunn, President and Chief Executive Officer of Commercial Vehicle
Group. "We look forward to working with the employees, customers and suppliers
as we move forward with this exciting new opportunity," added Mr. Dunn.

Vijayjyot Seats Private Limited will continue as a stand-alone business as a
supplier of certain materials and components for other customers and markets
in India, as well as a supplier to CVG India for the acquired seat business.

Total upfront cash consideration for the transaction was approximately $13.7
million, with an additional maximum earn-out potential of up to approximately
$1.9 million based on EBITDA (Earnings Before Interest, Taxes, Depreciation
and Amortization) performance during the first two years of the acquisition.
For the full year 2013, the Company expects the acquisition to achieve
revenues of approximately $28.0 million, operating income of approximately
$1.4 million and depreciation and amortization expense of approximately $1.0
million. The Company expects the acquisition to be incremental to earnings
per share by approximately $0.03 per share for the full year 2013.

For the remainder of 2012, the Company expects revenues from the acquisition
to be approximately $3.0 million, operating income of approximately $0.1
million and depreciation and amortization expense of approximately $0.1
million.

"We have spent a considerable amount of time in India over the past 12 to 18
months working with Vijayjyot to gain a better understanding of our potential
within the seating market in India. Along with our efforts already underway
in India, we believe this acquisition is another step towards achieving our
market penetration and growth objectives in the India market over the next
several years," said Chad M. Utrup, Chief Financial Officer of Commercial
Vehicle Group.

About Commercial Vehicle Group, Inc.

Commercial Vehicle Group is a leading supplier of fully integrated system
solutions for the global commercial vehicle market, including the heavy-duty
truck market, the construction and agriculture market and the specialty and
military transportation markets. The Company's products include suspension
seat systems, interior trim systems, such as instrument and door panels,
headliners, molded products, cabinetry and floor systems, cab structures and
components, mirrors, wiper systems, electronic wiring harness assemblies and
controls and switches specifically designed for applications in commercial
vehicle cabs. The Company is headquartered in New Albany, OH with operations
throughout North America, Europe and Asia. Information about the Company and
its products is available on the internet at www.cvgrp.com .

Forward-Looking Statements

This press release contains forward-looking statements that are subject to
risks and uncertainties. These statements often include words such as
"believe," "expect," "anticipate," "intend," "plan," "estimate," or similar
expressions. . In particular, this press release may contain forward-looking
statements about Company expectations for future periods with respect to
revenues, operating income, depreciation and amortization expense, earnings
per share and the Company's financial position or other financial
information. These statements are based on certain assumptions that the
Company has made in light of its experience in the industry as well as its
perspective on historical trends, current conditions, expected future
developments and other factors it believes are appropriate under the
circumstances. Actual results may differ materially from the anticipated
results because of certain risks and uncertainties, including but not limited
to: (i)the Company's ability to develop or successfully introduce new
products; (ii)risks associated with conducting business in foreign countries
and currencies; (iii)general economic or business conditions affecting the
markets in which the Company serves; (iv)increased competition in the
heavy-duty truck market; (v)the Company's failure to complete or successfully
integrate additional strategic acquisitions; and (vi)various other risks as
outlined in the Company's SEC filings. There can be no assurance that
statements made in this press release relating to future events will be
achieved. The Company undertakes no obligation to update or revise
forward-looking statements to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operating results over time. All
subsequent written and oral forward-looking statements attributable to the
Company or persons acting on behalf of the Company are expressly qualified in
their entirety by such cautionary statements.

Website: http://www.cvgrp.com
Contact: John Hyre, Commercial Vehicle Group, Inc., +1-614-289-5369