11/17/2008: Wolverine Carbide Die Company Joins Forces with Direct Tool:
New entity to be known as Wolverine Carbide and Tool
Roseville, MI, November 17, 2008 – Wolverine Carbide Die Company, a manufacturer of high precision dies and tools in Troy, Michigan, has joined forces with Direct Tool Inc., also a provider of precision tool manufacturing, procurement and management in Roseville, Michigan. Effective November 10, 2008, the companies combined operations at Direct Tool's 20,000 square foot, state-of-the art facility in Roseville, MI. The joint entity is operating as Wolverine Carbide and Tool.

According to senior executives at both companies, the parties opened their discussion in July 2008 with the objective of preserving Wolverine Carbide's standards for quality and service while integrating Direct Tool's advanced technologies and operational efficiencies. The Roseville facility houses advanced machining technologies including innovative wire and sinker EDM equipment, CNC turning and milling centers, and an array of CNC precision grinders. The final agreement to combine the companies was signed in late October. All hourly personnel from both companies have been invited to join the new operation in Roseville.

"The Wolverine Carbide staff brings unequaled craftsmanship in precision tool manufacturing," said Randy Grunewald, previously of Direct Tool, now plant manager of Wolverine Carbide and Tool. "By combining Wolverine's expertise with Direct Tool's technology and quality operation, Wolverine Carbide and Tool is uniquely positioned to offer customers superior products, competitive pricing and fast turnaround." Founded in 1965 by President Gus Stavropoulos, Wolverine Carbide Die Company has operated as a family business with two of Stavropoulos' sons holding executive management positions. The Stavropoulos family maintains a financial stake in the new operation. Nicholas Stavropoulos, formerly vice president of Wolverine Carbide, will remain actively involved in Wolverine Carbide and Tool as director of business development.

"For over 30 years, we have been serving clients who highly value our level of service and quality," stated Gus Stavropoulos, "This transaction will ensure that Wolverine Carbide and Tool can maintain our standards of excellence while becoming significantly more competitive on price and turnaround."

Nicholas Stavropoulos added, "With the efficiencies in our new operation, we are already seeing that we can deliver quality product much faster at a significant savings to our customers."