Chassix Receives Final Authorization to Access $250 Million in DIP Financing

SOUTHFIELD, Mich. – April 10, 2015 – Chassix Holdings, Inc. (“Chassix”) today announced that theCompany and its U.S. subsidiaries have received approval from the United States Bankruptcy Court forthe Southern District of New York (the “Court”) to access the full amount its $250 million in committed debtor-in-possession (“DIP”) financing. The Company had previously received interim approval from theCourt to access up to $205 million of the DIP financing. The Court also granted final approval for several other orders that, among other things, enable Chassix to continue normal business operations.

“With the Court’s approval of our $250 million DIP financing, Chassix now has access to $45 million of additional liquidity that will help ensure that business operations continue in the ordinary course,” said Mark Allan, Chassix Chief Executive Officer. “Throughout this process, we remain fully committed to continuing to provide our customers with high-quality products and services without interruption, and we deeply value their ongoing support. This progress would not be possible without the dedication of our employees, who continue to work hard every day.”

As previously announced, on March 12, 2015, Chassix and its U.S. subsidiaries voluntarily filed for relief under Chapter 11 of the United States Bankruptcy Code to implement a pre-negotiated financial restructuring plan. The plan, which has received support from 80% of its unsecured bondholders and71.5% of its senior secured bondholders, its existing sponsor, and all of its largest customers, is intendedto enhance the Company’s financial strength and position it to move forward as a robust, well capitalized global automotive supplier. Chassix’s operations outside the United States are not included in the Chapter 11 proceedings. The Court has set a hearing date of April 23, 2015 to consider approval ofthe Company’s Disclosure Statement.

Additional information regarding Chassix’s restructuring is available at www.chassix.com. Court filingsand information about the claims process are available at https://cases.primeclerk.com/chassix or by calling Chassix’s claims agent, Prime Clerk, at 844-224-1137 (or 917-962-8896 for international calls).

Weil, Gotshal & Manges LLP is serving as legal counsel and Lazard Freres & Co. LLC is serving as financial advisor to Chassix. FTI Consulting is providing interim management services to Chassix, including operational evaluation, business plan development and strategy implementation.

About Chassix

Chassix represents a $1.4 billion, privately held automotive supplier of precision casting and machining solutions. The brand was launched in 2013 following the integration of the businesses of SMW Automotive, LLC and Diversified Machine, Inc. The Company is focused on delivering high-quality, precision ductile iron and aluminum chassis components, with more than 4,500 employees in 26 locations in every key region of the world.

Forward-Looking Statements

This press release contains, and oral statements made from time to time by our representatives may contain, forward-looking statements that are based upon our current expectations and assumptions concerning future events, which are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. The words "expect," "anticipate," "estimate," "forecast," "initiative,""objective," "plan," "goal," "project," "outlook," "priorities," "target," "intend," "evaluate," "pursue,""commence," "seek," "may," "would," "could," "should," "believe," "potential," "continue," or the negative of any of those words or similar expressions is intended to identify forward-looking statements. All statements contained in this press release, other than statements of historical fact, including, without limitation, statements about our operations, financial condition and liquidity, strategies, business initiatives, prospects, expectations regarding future events and our financial performance and the development of the industry in which we operate, are forward-looking statements that involve certain risks and uncertainties. While these statements represent Chassix’s current judgment on what the future may hold, and Chassix believes these judgments are based upon reasonable assumptions, these statements are not guarantees of any events or financial results, and the company’s actual results may differ materially.You should not place undue reliance on the forward-looking statements contained in this press release. These forward-looking statements speak only as of the date on which the statements were made. Chassix undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except where expressly required by law.