Onex Corporation
TSX : OCX.SV

Onex Corporation

July 06, 2005 15:22 ET

Onex Sells Remaining Interest in Commercial Vehicle Group

TORONTO, ONTARIO--(CCNMatthews - July 6, 2005) -

All amounts in Canadian dollars unless otherwise stated

Onex Corporation (TSX:OCX.SV) announced today that it has completed the sale to the public of its remaining interest in Commercial Vehicle Group, Inc. (Nasdaq:CVGI) for net proceeds of approximately $89 million.

Onex made its initial investment in CVGI's business in 1997 and had invested a total of approximately $69 million through early 2004. In August 2004, Onex sold a portion of its interest in the Company's initial public offering. Following the completion of today's transaction, Onex has realized aggregate net proceeds of approximately $165 million for its entire interest in CVGI.

Onex Corporation is a diversified company with annual consolidated revenues of approximately $18 billion and consolidated assets of approximately $13 billion. Onex is one of Canada's largest companies with global operations in service, manufacturing, and technology industries. Its operating companies include Celestica Inc., Mid-Western Aircraft Services, Inc., Emergency Medical Services Corporation, Magellan Health Services, Inc., Res-Care, Inc., Center for Diagnostic Imaging, Inc., Cosmetic Essence, Inc., ClientLogic Corporation, Cineplex Galaxy LP, J.L. French Automotive Castings, Inc., Performance Logistics Group and Radian Communication Services Corporation. Onex shares trade on the Toronto Stock Exchange under the stock symbol OCX.SV.

For more information on Onex, visit its Web site at www.onex.com.

Onex's security filings also can be accessed at www.sedar.com.

Contact Information

  • Onex Corporation
    Donald W. Lewtas
    (416) 362-7711