<PAGE>   1


                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                             ----------------------

                                   FORM 10-K
(Mark One)
[X]   Annual report pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934 for the fiscal year ended September 28, 1997

[ ]   Transition report pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934 for the transition period from         to
                                                    -------   -------
                        COMMISSION FILE NUMBER 333-21819

                                --------------

                             LDM TECHNOLOGIES, INC.
            (Exact Name of Registrant as Specified in its Character)

                MICHIGAN                                  38-2690171
     (STATE OR OTHER JURISDICTION OF                    (IRS EMPLOYER
     INCORPORATION OR ORGANIZATION)                   IDENTIFICATION NO.)
       
                      
           2500 EXECUTIVE HILLS DRIVE, AUBURN HILLS, MICHIGAN 48326
           (ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)         (ZIP CODE)

     REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:  (248) 858-2800
         Securities Registered Pursuant to Section 12(b) of the Act:

                                                  Name of Each Exchange
        Title of Each Class                        on Which Registered
        -------------------                       -------------------  
                None                                      None


          Securities Registered Pursuant to Section 12(g) of the Act:
                                      NONE
                                (TITLE OF CLASS)

         Indicate by check mark whether the Registrant (1) has filed all
reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the
Registrant was required to file such reports), and (2) has been subject to such
filing requirements for the past 90 days.           Yes [X]         No [ ]

         Indicate by check mark if disclosure of delinquent filers pursuant to
Item 405 of Regulation S-K is not contained herein, and will not be contained,
to the best of Registrant's knowledge, in definitive proxy or information
statements incorporated by reference in Part III of this Form 10-K or any
amendment to this Form 10-K.                        Yes [X]         No [ ]

         As of December 1, 1997, 600 shares of Common Stock of the Registrant
were outstanding.  There is no public trading market for the Common Stock.





<PAGE>   2

                                     PART I


Item 1.      Business

GENERAL

         LDM Technologies, Inc. (the "Company" or "LDM") is a leading Tier 1
designer and manufacturer of highly engineered plastic instrument panel and
interior trim components, exterior trim components and under the hood
components supplied primarily to North American automotive original equipment
manufacturers (OEMs).  Suppliers that sell directly to OEMs are referred to
herein as "Tier 1" suppliers.  The Company is a full service supplier with
advanced computer design and engineering capabilities that have enabled it to
penetrate OEM new product programs during the concept stage of the product life
cycle and promote long-term customer relationships.  The Company recently
constructed its Auburn Hills Design Center to enhance its conceptual design and
development capabilities.

         The Company, a privately held Michigan corporation, was incorporated
in 1985 to pursue acquisitions in the automotive industry.  In 1986, the
Company began to focus on the market for highly engineered plastic components
when it acquired Arrow Molded Plastics, Inc.  In 1993, the Company strengthened
its presence in this market with the acquisition of Knapp Plastics Ltd., a
manufacturer of exterior trim components and in 1994, purchased selected assets
of Windsor Plastic Products Ltd., a manufacturer of instrument panel
components.  In fiscal year 1997 the Company completed its acquisition of
substantially all the assets of Molmec, Inc., a manufacturer of under the hood
products (the "Molmec Acquisition").  The Company also completed its
acquisition of Aeroquip's Kendallville, Indiana facility in fiscal year 1997
(the "Kendallville Acquisition").  Through a combination of these acquisitions
and internal growth, the Company's net sales and EBITDA have increased from
approximately $110.3 million and $8.2 million, respectively, in fiscal year
1993 to approximately $324.5 million and $34.2 million, respectively, on a pro
forma basis in fiscal year 1997, which represents a compound annual growth rate
of 31% and 43%, respectively.

INDUSTRY OVERVIEW

         The North American automotive industry is currently experiencing a
number of trends which are significant to the Company's business.

                Increasing Utilization of Plastic.  In recent years, OEMs have
          focused their efforts on developing and employing lower cost and
          lighter materials, such as plastic, in the design of components. 
          Plastic provides OEMs with a number of design advantages over metal
          including increased design flexibility and aesthetic appeal,
          resistance to corrosion and improved fuel-efficiency performance due
          to lighter weight materials.  Substituting plastic for metal can also
          reduce manufacturing costs by eliminating machining costs, reducing
          painting costs, facilitating assembly, minimizing tooling costs and
          consolidating the number of parts used in a vehicle.  The Company
          believes that while the majority of the





<PAGE>   3

          opportunities for converting metal into plastic have already
          occurred in exterior and interior trim applications, there are
          significant growth opportunities in the use of plastic in
          under-the-hood components.  Suppliers of under-the-hood components,
          such as the Company, are increasingly being asked to develop complex
          under-the-hood systems, including plastic transmission covers that
          consolidate engine mounts and drive shaft seals and battery trays
          that integrate fluid reservoirs.

                Expansion of OEM Supplier Responsibilities.  Since the 1980s,
          OEMs such as Ford, General Motors and Chrysler have been actively
          reducing their supplier base to include only those suppliers which
          accept significant responsibility for product management and meet
          increasingly strict standards for product quality, on time delivery
          and manufacturing costs.  These suppliers are expected to control
          many aspects of the production of system components, including
          design, development, component sourcing, manufacturing, quality
          assurance, testing and delivery to the customer's assembly plant.

                Globalization of the OEM Supplier Base.  Several OEMs have
          announced certain models designed for the world automobile market
          ("World Car").  This departure from the historical practice of
          designing separate models for each regional market will generally
          require suppliers to establish international design and manufacturing
          capabilities through internal development, joint ventures or
          acquisitions.  As a result, certain domestic and European OEMs have
          encouraged their existing suppliers to establish foreign production
          support for World Car programs.

                Market-based Pricing.  In an effort to reduce costs and to
          ensure the affordability and competitiveness of their products, OEMs
          are sourcing automotive components using a market-based pricing
          approach.  In using such a market-based approach, OEMs establish a
          target price, or the price the market is willing to pay for a
          vehicle, and systematically divide this price into system and
          component target prices.  In addition, under market-based pricing,
          the OEMs often require annual price reductions for the vehicle's
          systems and components.  As a result, the market-based approach to
          pricing has generally required automotive suppliers to focus on
          continually reducing product costs while improving quality standards.


AUTOMOTIVE PRODUCTS

        The Company designs and manufactures highly-engineered  plastic 
instrument panel and interior trim components, exterior trim  components and
under-the-hood components.  In recent years, the Company has  significantly
expanded its design and engineering capabilities which provide  the Company
with a competitive advantage in obtaining new business.  The Company's three
automotive lines of business are as follows:

                Instrument Panel Components and Interior Trim Components.  The
          Company focuses on the production of complex products such as
          instrument panel subassemblies which require the integration of
          multiple components.  Instrument panel components





                                       2
<PAGE>   4

          manufactured by the Company include cluster finish panels,
          center trim panels, air vents, coin and cup holders, ashtrays,
          gloveboxes, telephone holders and consoles.  Certain products in this
          line of business demand functional aesthetics appeal and typically
          require the Company to provide innovative and design intensive
          solutions for application requirements stipulated by OEMS.
          Historically, the Company's largest customer for its instrument panel
          components has been Ford.

                Exterior Trim Components.  Exterior trim systems manufactured 
          by the Company include front and rear bumper fascias, end caps,
          body side claddings and moldings, rocker panels and grills.  The
          Company's broad range of exterior trim class A painting capabilities
          provides it with a competitive advantage in supplying exterior trim
          to domestic and foreign OEMs.  The Company is able to provide both
          high-bake high solids painting, which is traditionally preferred by
          domestic OEMs, and low-bake, two component painting, which is
          preferred by foreign OEMs.  Historically, LDM's largest customer for
          its exterior trim components has been General Motors. 

                Under-the-Hood Components.  The Company is a designer and
          manufacturer of fluid and air management components for
          under-the-hood applications  such as cowl vent assemblies, fluid
          reservoirs including degas bottles,  battery trays and covers, air
          deflectors and sight shields.  The Company  believes that it supplies
          the majority of Ford's cowl vent assemblies for  North American car
          and truck platforms.  OEMs are increasingly substituting plastic for
          metal in under-the-hood components and systems in an effort to reduce
          cost, noise and weight, to enhance design flexibility, to
          improve airflow and to increase aesthetic appeal.  Historically, the
          largest customer for its under-the-hood  components has
          been Ford.  

 CONSUMER PRODUCTS

         G.L. Industries of Indiana, Inc. (d/b/a Como Products ("Como"), a 
manufacturer of consumer and office products, was acquired by the
Company in 1993.  Como is a manufacturer of plastic injection molded products
for the electronics, computer, television, office furniture, appliance,
transportation and business machine markets.  Como's extensive finishing
capabilities include painting, EMI/RFI shielding, hot stamping, induction
bonding, pad printing and machining of molded parts.  With injection molding
machines ranging from 230 tons to 3,000 tons, Como has the ability to produce a
broad range of molded parts, including injection molded, structural foam and
counter pressure structural foam parts.  Como sales represented approximately
7.3% of the Company's fiscal year 1997 net product sales.  See Note 8,
"Segment Data from Continuing Operations" of the Notes to the Company's
Consolidated Financial Statements.





                                       3
<PAGE>   5



CUSTOMERS

         The Company's principal customers are Ford, General Motors, Volkswagen
and Chrysler for which it supplies components and subassemblies for a variety
of light duty trucks, minivans and passenger cars.  While the Company's
products are generally used on a diverse group of over 40 models, the Company's
sales and marketing efforts have been directed towards those sectors of the
automotive market which have experienced strong consumer demand and growth in
sales.  The Company supplies components and subassemblies for a variety of
light duty trucks, sports utility vehicles, minivans and passenger cars
including: Ford's F-Series truck, Expedition and Explorer sport utility
vehicles, Windstar minivan, and Contour/Mystique and Taurus/Sable passenger
cars; General Motors' Sonoma Blazer and Jimmy sport utility vehicles, and Grand
Prix/Cutlass, Cadillac Deville and Seville passenger cars; Volkswagen's
Golf/Jetta passenger car and Chrysler's Dakota light truck, Caravan/Voyager
minivan, and Neon passenger car.

         The approximate percentage of net production sales to the principal
customers for the Company for the twelve-month period ended September 28, 1997
are show below:
                          
                                                            Year Ended
                                                         September 28, 1997
                                                         ------------------
Ford  . . . . . . . . . . . . . . . . . . . . . .              43.6%
General Motors  . . . . . . . . . . . . . . . . .              33.8%
Volkswagen  . . . . . . . . . . . . . . . . . . .               6.0%
Chrysler  . . . . . . . . . . . . . . . . . . . .               2.4%
Other Automotive  . . . . . . . . . . . . . . . .               6.8%
Other Non-Automotive  . . . . . . . . . . . . . .               7.4%
                                                              ------
         Total  . . . . . . . . . . . . . . . . .             100.0%
                                                              ======

         The Company's customers typically award purchase orders on a limited
source basis that normally cover components to be supplied for a particular car
model.  Such purchase orders generally provide for supplying the customer's
requirements for a model year, although, in practice, such purchase orders are
typically renewed until the component is redesigned or eliminated in a model
change.

         Products under development are assigned a selling price which is
reevaluated from time to time during the product development cycle.  Prior to
production, the Company and the customer generally agree on a final price,
which, in some instances, may be subject to negotiated price reductions or
increases over the term of the project.  Consequently, the Company's ability to
improve operating performance is generally dependent primarily on its ability
to reduce costs and operate more efficiently.





                                       4
<PAGE>   6

         The Company has been chosen as a supplier for a variety of light trucks
(including pick-up trucks, minivans, full size vans and sport utility vehicles)
and passenger car models.  The following table presents an overview of the
major models, listed alphabetically, for which the Company currently produce
components for its OEM customers:
                                          
Customer                                                       Model
----------------------------------------------------------------------------
General Motors truck  . . . . . . . . . .     APV/Transport
                                              Astro/Safari
                                              Blazer
                                              Bravada
                                              Jimmy
                                              Sonoma/Blazer
                                              Sonoma Pick-up
                                              1500 Series
                                          
General Motors-car  . . . . . . . . . . .     Achieva/Grand Am
                                              Alero
                                              Corvette
                                              Deville/Concourse
                                              El Dorado
                                              Firebird/Camaro
                                              Grand Prix/Cutlass
                                              Malibu/Century
                                              Seville
                                          
Ford-truck  . . . . . . . . . . . . . . .     Aerostar
                                              Econoline
                                              Expedition
                                              Explorer
                                              F-Series truck
                                              F-250/F-350
                                              Villager
                                              Windstar
                                          
Ford-car  . . . . . . . . . . . . . . . .     Continental
                                              Contour/Mystique
                                              Crown Victoria/Grand Marquis
                                              Mark VIII
                                              Mustang
                                              Probe
                                              T-Bird/Cougar
                                              Taurus/Sable
                                              Town Car
Chrysler-truck  . . . . . . . . . . . . .     Caravan/Voyager
                                              Dakota
Chrysler-car  . . . . . . . . . . . . . .     Neon

Volkswagen  . . . . . . . . . . . . . . .     Golf/Jetta
                                              Concept





                                       5
<PAGE>   7


DESIGN AND PRODUCT ENGINEERING

         The Company is a full service Tier I supplier with advanced
engineering capabilities which enable it to design innovative, high-quality
products that provide value to its customers.   The Company recently
built its Auburn Hills Design Center to provide an environment for
trend-setting conceptual design and product development.  The Company has made
other significant investments in conceptual design capabilities that allow it
to participate in the earliest stages of programs.  For instance, the Company
has embraced computer-aided simulation directly linked to customer computer
networks as a means to reduce the cost and time required to develop new
products.  The industrial design activity has augmented the Company's
traditional modeling methods with computer-aided technology which reduces staff
requirements as well as simplifying the integration of design and engineering
functions.  The Company has transitioned from computer-aided design shell to
solid modeling which provides a direct link to rapid prototyping.  The
Company's design staff employs state-of-the-art ALIAS computer software to
provide three-dimensional virtual modeling and product animation.  Analytical
tools employed include finite element analysis for structural analysis,
kinematics for mechanisms, computational fluid dynamics for airflow studies and
moldfilling analysis for injection molding optimization and warp prediction.

MANUFACTURING

         The Company's OEM customers are focusing on suppliers capable of
delivering quality products, controlling manufacturing costs and integrating,
through design capabilities, multiple components into larger systems.  The
Company has responded to this challenge by implementing a lean manufacturing
program and adopting advanced processing technology.

         The Company's lean manufacturing program has focused on "kanban"
production scheduling and materials management techniques and labor
productivity improvements.  Kanban management techniques are characterized by
flexible production scheduling as well as vendor scheduling, reduced work
queues, more frequent vendor deliveries and reduced inventory levels.  Through
kanban, the Company has experienced increased inventory turnover and generally
reduced inventory levels.

         The Company continually seeks to achieve labor productivity
improvement and has established a work environment which encourages employee
involvement in identifying and eliminating waste.  A key factor in the
Company's operations is maintaining the flexibility to respond to the demands
of different product runs and changing product delivery requirements while
continuously increasing production efficiency.

         The Company believes its broad base of class A paint application
capabilities positions it well for supplying the domestic and foreign exterior
trim market.  The Company is able to provide both high-bake high solids
painting, which is traditionally preferred by domestic OEMS, and low-bake, two
component painting, which is preferred by foreign OEMS.  The Company has





                                       6
<PAGE>   8

also recently developed paint application technology utilizing innovative
robotic applications which has enabled the Company to reduce costs by improving
paint transfer efficiency.

         The Company has been recognized as a quality supplier by its OEM
customers and has received Ford's Q1 Award and has been nominated for 
Chrysler's Pentastar Award.  The majority of the Company's facilities
are QS 9000 certified and the remaining facilities are in the process of being
certified.

MARKETING

         Sales of the Company's products to OEMs are made directly by the
Company's sales and engineering force, headquartered in Michigan.  Through the
sales and engineering office, the Company services its OEM customers and
manages its continuing programs of product design improvement and development.
The Company's sales and engineering force currently consists of approximately
100 individuals, including several who are located periodically at various
OEMs' offices in order to facilitate the development of new programs.

COMPETITION

         The automotive supplier industry in which the Company competes is
highly competitive.  A large number of actual or potential competitors exist
including the internal component supply operations of the OEMs as well as
independent suppliers, many of which are larger than the Company.  The Company
believes its principal competitors in its three lines of business include:
Progressive Dynamics Inc., Summit Polymers Inc. and Manchester Plastics, a
business unit of Collins & Aikman Corporation, in instrument panel components;
Magna International Inc., Venture Holdings Corporation, and JPE, Inc., in
exterior trim components; and Huron Inc., Key Plastics Inc. and Lacks
Industries in under-the-hood components.

         The Company principally competes for new business both at the initial
development of new models and upon the redesign of existing models by its major
customers.  New model development generally begins two to four years prior to
the marketing of such models to the public.  Because of the large investment by
OEMs and Tier I suppliers in tooling and the long lead time required to
commence production, OEMs and Tier I suppliers generally do not change a
supplier during a model production run.

RAW MATERIALS

         The principal raw materials used by the Company are engineered plastic
resins such as nylon, polypropylene, polycarbonate and
acrylonitrile-butadiene-styrene, paint, and steel for production molds, all of
which are available from many sources.  The resins used in the Company's
business historically have been subject to price fluctuations.  In the past,
the Company has been unable to pass price increases in resins through to its
customers.  There can be no assurance that a material increase in the price of
resin will not adversely affect the Company's results of operations.  The
Company has not experienced significant raw material shortages and does not
anticipate significant raw material shortages in the foreseeable future.





                                       7
<PAGE>   9

EMPLOYEES

         As of September 28, 1997, the Company's workforce included
approximately 2,665 employees, of which 471 were salaried workers, and 2,194
were hourly workers including temporary and part-time   employees.  The Company
has approximately 276 hourly employees represented by the Canadian Automobile
Workers union at its Leamington, Canada facility and approximately 161 hourly
employees represented by the United Auto Workers at its Como facility.  The
Company's three-year contract with the bargaining unit for the Leamington
facility expires January 15, 1998.  None of the Company's other employees are
subject to collective bargaining agreements.  The Company has not experienced
any work stoppages and considers relations with its employees to be good.

ENVIRONMENTAL MATTERS

      The Company's operations and properties are subject to a wide
variety of international, federal, state and local laws and regulations,
including those governing the use, storage, handling, generation, treatment,
emission, release, discharge and disposal of certain materials, substances and
wastes, the remediation of contaminated soil and groundwater, and the health
and safety of employees (collectively, "Environmental Laws").  As such, the
nature of the Company's operations exposes it to the risk of claims with
respect to such matters and there can be no assurance that material costs or
liabilities will not be incurred in connection with such claims.

      The Company has taken steps, including the installation of an
Environmental, Health and Safety group to reduce the environmental risks
associated with its operations and believes that it is currently in substantial
compliance with applicable Environmental Laws.  See Item 7 - "Management's
Discussion and Analysis of Financial Condition and Results of Operations -
Environmental."



Item 2.  Properties

         The Company conducts molding, painting and assembly operations
in approximately 1.1 million square feet of space in a total of twelve
manufacturing locations including five plants located in Michigan (Clarkston, 
Fowlerville, Hartland, New Hudson and Rochester Hills), two plants in Indiana 
(Columbus and Kendallville), three plants in Ohio (Circleville, Napoleon and
Byesville), one plant in Tennessee (Franklin) and one plant in  Canada
(Leamington, Ontario).  Each of the Byesville, Franklin, Leamington, New
Hudson, Hartland, Fowlerville, Kendallville and Clarkston facilities are owned
by the Company.  The Circleville, Napoleon and Rochester Hills facilities are 
leased from unaffiliated parties.  The Columbus facility is leased
from an affiliated party.  The utilization and capacity of the Company's
facilities fluctuates based upon the mix of components the Company produces and
the vehicle models for which they are being produced.





                                       8
<PAGE>   10

             In October, 1996 the Company relocated its principal executive
offices and design and engineering staff from Troy, Michigan to Auburn Hills,
Michigan.  The Auburn Hills offices are owned by the Company.  The Company
believes that its facilities and equipment are in good condition and are
adequate for the Company's present and anticipated future operations.

Item 3.      Legal Proceedings

             There are no material legal proceedings pending against the
Company or its subsidiaries.

Item 4.      Submission of Matters to a Vote of Security Holders

             Not applicable


                                    PART II


Item 5.      Market for the Registrant's Common Equity and Related Shareholder
Matters

             There is no public trading market for the Company's Common Stock.
As of September 28, 1997, there were two holders of record of the Registrant's
Common Stock.

Item 6.      Selected Financial Data

                             Summary Financial Data
                             (dollars in thousands)

The following table sets forth (i) summary historical financial data of LDM
Technologies, Inc. for the fiscal years ended September 26, 1993, September 25,
1994, September 24, 1995, September 29, 1996 and September 28, 1997 and (ii)
summary pro forma financial data giving effect to the Molmec Acquisition, the
issuance of Senior Subordinated Notes due 2007 and the Kendallville Acquisition
for the fiscal year ended September 28, 1997 as if each had occurred on
September 30, 1996.  The following table should be read in conjunction with
"Management's Discussion and Analysis of Financial Condition and Results of
Operations" and the historical consolidated financial statements of LDM
presented elsewhere in this document.





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<PAGE>   11


<TABLE>
<CAPTION>
                                                                                                     Unaudited
                               Unaudited                          Audited                            Pro forma
                               ---------     -------------------------------------------------       ---------
                               Sept. 26      Sept. 25      Sept. 24      Sept. 29      Sept. 28      Sept. 28
                                  1993        1994          1995           1996          1997         1997(a)
                                 -------     -------       -------       -------       -------       --------
 <S>                         <C>          <C>         <C>             <C>           <C>           <C>
 Statement of operations
   Data                                                                                                        
   Net sales (b)               $ 110,251    $ 177,597    $ 220,991      $ 217,759     $ 293,020     $ 324,538
   Cost of sales                  90,674      151,692      182,408        182,896       240,929       262,831
   Gross profit                   19,577       25,905       38,583         34,863        52,091        61,707
   Selling, general and                                                                                 
      administrative                                                                                         
      expenses                    14,679       17,137       23,515         26,418        35,561        41,274
   Operating profit                4,898        8,768       15,068          8,445        16,530        20,433
   Interest expense                  779        2,144        3,178          3,280        11,076        14,061
   Income from                 
      continuing operations,                                                                                 
      before extraordinary        
      item [c]                     3,026        2,570        6,248          1,173         3,063         3,614

 Other financial data
 Cash flows from operating
      activities               $     349    $   7,801    $  14,788      $  12,912     $   9,336     $  
   EBITDA (d)                      8,228       15,110       21,261         16,473        28,182        34,214
   Depreciation and                      
      amortization                 3,810        6,593        6,778          8,006        11,955        14,038
   Capital expenditures            6,465       29,023       15,150         20,286        12,776        
   Ratio of earnings to            
      fixed                           
      charges(e)                     5.3          3.5          3.9            1.9           1.4           1.4
   Ratio of EBITDA to              
       interest expense             10.6          7.0          6.7            5.0           2.5           2.4
   Ratio of debt to EBITDA           1.6          2.4          2.1            3.1           4.5           3.7
                             

 Balance sheet data
   Cash                        $     318    $     976    $   1,138      $   2,122     $   4,632     $   4,632
   Total assets                   50,353       86,777      107,655        119,125       212,187       212,187
   Total debt                     12,971       36,489       44,936         51,786       126,770       126,770
   Stockholder's equity           14,586       17,319       23,635         17,322        20,385        20,385
</TABLE>

(a)   Gives pro forma effect to the Molmec Acquisition, the issuance of the 10
      3/4% Senior Subordinated Notes due 2007 and the Kendallville Acquisition
      in the manner described in the historical financial statements contained
      in Item 14 of this document.
(b)   The Company in 1993 acquired a 75% interest in GL Industries of Indiana,
      Inc. (d/b/a Como Products), a manufacturer of consumer thermoplastic
      components.  Net sales of Como for fiscal years 1997, 1996, 1995 and 1994
      were $23.3 million, $22.1 million, $31.8 million and $31.3 million,
      respectively.
(c)   During fiscal year ended September 26, 1993 LDM settled a lawsuit for
      approximately $1.4 million relating to an acquisition made in 1988 and
      the subsequent sale or transfer of certain of the acquired business
      assets to LDM.
(d)   EBITDA is defined as income from continuing operations before the effect
      of extraordinary items plus the following:  interest, income taxes,





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<PAGE>   12

      depreciation and amortization.  EBITDA is presented because it is a widely
      accepted financial indicator of a company's ability to incur and service
      debt. EBITDA is not, and should not be used as, an indicator or
      alternative to operating income, net income or cash flow as reflected in
      the Consolidated Financial Statements, is not intended to represent funds
      available for debt service, dividends, reinvestment or other discretionary
      uses, is not a measure of financial performance under generally accepted
      accounting principles, should not be considered in isolation or as a
      substitute for measures of performance prepared in accordance with
      generally accepted accounting principles and may not be compared to other
      similarly-titled measures of other companies.  A  reconciliation of net
      income to EBITDA is as follows:

<TABLE>
<CAPTION>
                                                                                                       Unaudited
                               Unaudited                          Audited                              Pro forma
                               ---------    ------------------------------------------------------     ---------
                               Sept. 26       Sept. 25     Sept. 24       Sept. 29      Sept. 28        Sept. 28
                                 1993           1994        1995            1996          1997           1997(e)
                               --------       --------     --------        -------       -------        --------
 <S>                           <C>          <C>         <C>            <C>             <C>             <C>
 Net Income                     $   3,026   $    2,752   $    6,334     $   1,869       $  3,063        $   3,614
 Add (deduct) the following:                                                                
   Extraordinary Item                   -            -            -          (754)             -                -
   Discontinued operations              -         (182)         (87)           58              -                -
   Provision for income                                                                                          
       taxes                          613        3,803        5,058         4,014          2,088            2,456
   Interest expense                   779        2,144        3,178         3,280         11,076           14,061
   Depreciation and          
       amortization                 3,810        6,593        6,778         8,006         11,955           14,083
                                ---------    ---------   ----------     ---------       --------        ---------  
 EBITDA                         $   8,228    $  15,110   $   21,261     $  16,473       $ 28,182        $  34,214
                                =========    =========   ==========     =========       ========        =========
</TABLE>

(e)   For purposes of the ratio of earnings to fixed charges, (i) earnings
      include income from continuing operations before the following: income
      taxes, extraordinary items, minority interests, and fixed charges and 
      (ii) fixed charges include interest on all indebtedness, amortization of 
      deferred financing costs and portion of rental expense that the Company 
      believes to be representative of interest.  The September 28, 1997 pro 
      forma ratio of earnings to fixed charges of 1.4 gives effect only to 
      the change in expense related to the replacement of the existing debt.

Item 7.      Management's Discussion and Analysis of Financial Condition and
             Results of Operations

GENERAL

      LDM is a leading Tier I designer and manufacturer of highly engineered
plastic instrument panel and interior trim components, exterior trim components
and under the hood components supplied primarily to North American automotive
OEMs.  LDM supplies components and subassemblies for a variety of light
duty trucks, sport utility vehicles, minivans and passenger cars.  Automotive
products under development are assigned a selling price which is reevaluated
from time to time during the product development cycle.  Prior to production,
the Company and the customer generally agree on a final price, which, in some
instances, may be subject to





                                       11

<PAGE>   13

negotiated price reductions or increases over the term of the project.
Consequently, the Company's ability to improve operating performance is
generally dependent primarily on its ability to reduce costs and operate more
efficiently.  Molds used in LDM's operations are requisitioned by LDM's
customers and are purchased from mold builders who design and construct the
molds under LDM supervision.  Upon delivery and acceptance of the molds, title
is passed to customers and revenue is recognized.  In addition to automotive
products, LDM's net sales include consumer product sales and mold sales.

RESULTS OF CONTINUING OPERATIONS

YEAR ENDED SEPTEMBER 28, 1997 COMPARED TO YEAR ENDED SEPTEMBER 29, 1996

NET SALES:  Net sales for fiscal year 1997 were $293.0 million, an increase of
$75.2 million, or 34.5%, from $217.8 million in fiscal year 1996.  For fiscal
year 1997, net sales, before intersegment elimination of $1.4 million, were
comprised of $243.3 million of automotive product sales, $19.2 million of
consumer and other product sales, and $31.9 million of mold sales.

         Automotive product sales in fiscal year 1997 were $243.3 million, an
increase of $70.0 million, or 40.4%, from $173.3 million in fiscal year 1996.
The strong growth of automotive products sales was mainly attributable to
increased automotive product sales related to the Company's January 22, 1997
acquisition of Molmec, Inc., $54.0 million and the continued strength of the
Company's other production parts programs.  Consumer and other product sales
were $19.2 million in fiscal year 1997, compared to $21.5 million in fiscal
year 1996.  This decrease of $2.3 million, or 10.7%, is primarily the result of
lower sales of television cabinets due to the manufacturer's resourcing of
these products to local suppliers.  Mold sales in fiscal year 1997 were $31.9
million, an increase of $6.6 million, or 26.1% from $25.3 million in fiscal
year 1996.  1997 mold sales were comprised of $27.9 million of automotive mold
sales and $4.0 million of consumer and other mold sales.

GROSS MARGIN: Gross margin was $52.1 million, or 17.8% of net sales, for fiscal
year 1997 compared to $34.9 million, or 16.0% of net sales, for fiscal year
1996.  Fiscal year 1997 gross profits related to automotive product sales,
consumer and other sales and mold sales were $50.2 million, or 20.6% of net
automotive product sales, $0.4 million, or 2.0% of net consumer and other
product sales, and $1.5 million, or 4.7% of net mold sales, respectively.  The
increase in total gross margin was primarily due to the additional gross margin
associated with Molmec product sales, $15.7 million, and improved profitability
of the Company's Canadian automotive operation, a $2.5 million increase versus
the prior year.

SELLING, GENERAL AND ADMINISTRATIVE (SG&A) EXPENSES:  SG&A expenses for fiscal
1997 were $35.6 million, or 12.1% of net sales, compared to $26.4 million, or
12.1% of net sales, for fiscal year 1996.

INTEREST EXPENSE:  Interest expense was $11.1 million for fiscal year 1997,
compared to $3.3 million for fiscal year 1996.   The increased interest expense
was primarily due to the January





                                       12
<PAGE>   14

1997 issuance of $110.0 million Senior Subordinated Notes related to the
acquisition of Molmec and the refinancing of the Company's existing debt.

INCOME TAXES:  The provision for income taxes for fiscal year 1997 was $2.1
million with an effective tax rate of 41.7%, as compared to $4.0 million with
an effective tax rate of 78.6% for fiscal year 1996.  The lower effective tax
rate is due to the Company's utilization of Canadian tax benefits not available
in the 1996 period and an Internal Revenue Service settlement of prior years
taxes in the 1996 fiscal year.  See Note 10, "Income Taxes" in the Notes to
LDM's Consolidated Financial Statements.

ACQUISITION OF MOLMEC:  On January 22, 1997, LDM acquired substantially all the
assets of Molmec for approximately $55.9 million in cash and the assumption of
certain liabilities including $4.6 million of indebtedness and $8.4 million of
current liabilities.  Molmec is an industry leader in the design, manufacture
and integration of fluid and air management components and under the hood
assemblies.

SENIOR SUBORDINATED NOTES AND NEW SENIOR CREDIT FACILITY:  In January of 1997,
LDM issued Senior Subordinated Notes in the aggregate principal amount of
$110.0 million bearing interest at 10.75% annually.  The proceeds were
primarily used to fund the purchase of Molmec and to retire certain of LDM's
existing indebtedness.  Also in January of 1997, LDM obtained a new senior
credit facility which provides available borrowings of up to $45.0 million
under revolving loans.

KENDALLVILLE ACQUISITION:  On April 25, 1997, the Company acquired certain
assets of Aeroquip Corporation's Kendallville Indiana plant for $7.2 million in
cash.  The Kendallville plant manufactures automotive air vents.

ACQUISITIONS SUBSEQUENT TO FISCAL YEAR END 1997

KENCO: On September 30, 1997 the Company acquired the entire outstanding stock
of Kenco Plastics, Inc. of Michigan, Kenco Plastics, Inc. of Kentucky and the
business and net tangible assets of Narens Design and Engineering, Inc.
(collectively referred to herein as "Kenco") for approximately $27.5 million in
cash, subject to certain adjustments. The acquisition was financed with
additional borrowings under the Company's Senior Credit Facility. Kenco designs
and manufactures a full range of blow molded plastic parts including HVAC
components, air induction components, functional components and fluid reservoirs
at six manufacturing locations located in Michigan, Kentucky and Tennessee.
Kenco's customers include Chrysler, Ford, General Motors, Mercedes, Mitsubishi
and Toyota. Kenco's net sales for the twelve month period ended September 28,
1997 were approximately $60.5 million.

BEIENHEIM: On November 25, 1997 the Company acquired substantially all of the
operating assets of Aeroquip-Vickers International GmbH., including the
manufacturing operation located in Beienheim Germany, for approximately $8.6
million in cash, and the assumption of approximately $2.5 million of
liabilities, subject to certain adjustments. The acquisition was made through
the Company's newly formed German subsidiary and was financed with additional
borrowings under the Company's Senior Credit Facility. The Beienheim facility
manufactures various interior trim components, exterior trim components and
under the hood components supplied primarily to European automotive OEMs.
Beienheim's customers include Ford, Opel and Audi. Net sales for the Beienheim
facility over the twelve month period ended September 28, 1997 were
approximately $33.0 million.

YEAR ENDED SEPTEMBER 29, 1996 COMPARED TO YEAR ENDED SEPTEMBER 24, 1995

NET SALES:  Net sales for fiscal year 1996 were $217.8 million, a decrease of
$3.2 million, or 1.5% from $221.0 million in fiscal year 1995.  For fiscal year
1996, net sales, before intersegment eliminations of $2.3 million, were
comprised of $173.3 million of automotive product sales, $21.5 million of
consumer and other product sales, and $25.3 million of mold sales.

         Automotive product sales in fiscal year 1996 were $173.3 million, a
decrease of $10.5 million, or 1.5%, from $183.8 million in fiscal year 1995.
This decrease was principally due to LDM's ceasing production of certain
products related to the General Motors Blazer, the Ford Taurus/Sable and the
Volkswagen Golf/Jetta.  The product produced for the Blazer is now being
produced internally by the customer.  The Taurus/Sable product was redesigned
by the customer and awarded to another supplier.  The Golf/Jetta production was
moved to a supplier closer to the customer's manufacturing location in Mexico.
The combined 1996 decrease in sales related to these three products was
approximately $30.0 million.  The reductions in these programs were partially
offset by sales related to new programs launched in 1996.  These new programs,
related to the Ford F-Series Truck and the Cadillac Deville/Concourse, provided
approximately $21.5 million of additional sales in 1996.  Consumer and other
product sales were $21.5 million, a





                                       13
<PAGE>   15

decrease of $9.2 million, or 29.9%, from $30.7 million in fiscal year 1995.
This decline was primarily attributable to a decline in television housing
sales to a television manufacturer due to adverse market conditions 
and a decline in television housing sales to a television manufacturer
that resourced the product to a local supplier.  Mold sales were $25.3 million,
an increase of $18.6 million, from $6.7 million in fiscal year 1995.  The
increase in mold sales in fiscal year 1996 was principally due to new platform
launches associated with the Contour/Mystique, Sonoma/Blazer, Bravada, Cadillac
Deville/Concourse and Grand Prix/Cutlass.

GROSS MARGIN:  Gross profit for fiscal year 1996 was $34.9 million, or 16.0% of
net sales, compared to $38.6 million, or 17.5% of net sales, for fiscal year
1995.  Gross profit from automotive operations in the United States was $33.4
million, or 20.9% of net sales, for fiscal year 1996, compared to $30.4
million, or 19.7% of net sales, for fiscal year 1995.  This increase was
principally due to favorable changes in material cost.  The gain in the United
States was offset by a decrease in the gross profit of the Company's Canadian
automotive operations.  Gross profit (loss) for the Company's Canadian
operations for fiscal year 1996 was ($0.2 million), or 0.5% of net sales,
compared to $4.0 million, or 11.5% of net sales for fiscal year 1995.  This
decrease was driven by higher scrap and labor costs resulting from the launch
of products at the Company's Leamington, Ontario facility related to the
General Motors Grand Prix/Cutlass and Cadillac Deville/Concourse programs.  The
higher scrap also caused a capacity shortage in certain tonnage machines
resulting in increased outsourcing costs.  Gross profit from consumer and other
products was $1.6 million, or 7.3% of net sales, for fiscal year 1996, compared
to $4.2 million, or 13.1% of net sales, for fiscal year 1995.  This decrease
was primarily attributable to a 29.9% decrease in consumer product sales during
this period.  Gross margin on mold sales for fiscal year 1996 was $2.5 million,
or 9.8% of net mold sales, compared to $0.4 million, or 5.3% of net mold sales
for fiscal year 1995.  The increase in gross margin was the result of more
effective management of the mold building process.  Gross margin from mold
sales is included in the gross margin by segment reported above.

SELLING, GENERAL AND ADMINISTRATIVE ("SG&A") EXPENSES:  SG&A expenses for
fiscal year 1996 were $26.4 million, or 12.1% of net sales, compared to $23.5
million, or 10.6% of net sales for fiscal year 1995.  The increase in SG&A
expenses as a percentage of net sales is primarily attributable to increased
design, engineering, and program management personnel costs.

INTEREST EXPENSE:  Interest expense for fiscal year 1996 was $3.3 million, or
1.5% of net sales, compared to $3.2 million, or 1.4% of net sales, for fiscal
year 1995.

INCOME TAXES:  The provision for income taxes for the fiscal year ended 1996
was $4.0 million with an effective tax rate of 78.6%, as compared to $5.1
million with an effective tax rate of 43.8% in fiscal year 1995.  The increase
in the effective tax rate in fiscal year 1996 was the result of the Company not
utilizing Canadian net operating losses and an Internal Revenue Service
settlement of prior year taxes.  See Note 10, "Income Taxes" in the Notes to
LDM's Consolidated Financial Statements.





                                       14
<PAGE>   16



LIQUIDITY AND CAPITAL RESOURCES:

The Company's principal capital requirements are to fund working capital needs,
to meet required debt obligations, and to fund capital expenditures for facility
maintenance and expansion.  The Company believes its future cash flow from
operations, combined with its revolving credit availability will be sufficient
to meet its planned debt service, capital requirements and internal growth
opportunities.  Potential growth from acquisitions will be funded from a
variety of sources including cash flow from operations and permitted
additional indebtedness.  As of September 28, 1997 the Company had $122.3
million of long-term debt outstanding and $25.1 million of borrowing
availability under its revolving credit facility.

Cash provided by operating activities in fiscal year 1997 was $9.3 million
compared to $12.9 million of cash provided by operating activities in the same
period in 1996.  The decrease in cash provided by operating activities was
primarily the result of higher working capital requirements related to
increased sales volumes.

Capital expenditures for fiscal year 1997 were $12.8 million compared to $20.3
million for fiscal year 1996.  Fiscal 1997 capital expenditures include several
injection molding machines, secondary equipment related to the F-Series Truck
program and expenditures related to the Auburn Hills Design Center.  On May 13,
1997 the Company sold the Molmec Headquarters facility located in Walled Lake,
Michigan.  The net proceed from the sale of this facility were approximately
$1.5 million.

The Company believes its capital expenditures (exclusive of any potential
acquisition) will be approximately $9.0 million to $13.5 million in each of the
fiscal years ended September 1998, 1999 and 2000.  However, the Company's
capital expenditures may be greater than currently anticipated as the result of
new business opportunities.

The Company's liquidity is affected by both the cyclical nature of its business
and levels of net sales to its major customers.  The Company's ability to meet
its working capital and capital expenditure requirements and debt obligations
will depend on its future operating performance, which will be affected by
prevailing economic conditions and financial, business and other factors,
certain of which are beyond its control.  However, the Company believes that
its existing borrowing ability and cash flow from operations will be sufficient
to meet its liquidity requirements in the foreseeable future.

ENVIRONMENTAL:

The Company has been notified of violations of certain permitted air emission
levels for organic compounds at its Byesville and Circleville plant locations.
It is the Company's policy to accrue environmental expenses when it is both
probable that a liability has been incurred and the amount can be reasonably
estimated.  On March 27, 1997, the Company settled an emission violation matter
related to its Byesville plant in the amount of $188,000.  The Company had
accrued $150,000 as of September 29, 1996 for this settlement and accrued the
remaining $38,000 during the quarter ended March 30, 1997.  The Company
believes that based upon available





                                       15
<PAGE>   17

information, the ultimate liability with respect to the remaining outstanding
air emission issue will not exceed the recorded liability related to the
Circleville plant and that the ultimate resolution of these matters will not
have a material impact on the Company's financial position, results of
operations or liquidity.

The Company has been named as a Defendant in a lawsuit in connection with a
failed landfill in Byesville, Ohio.  The lawsuit seeks contribution form the
Company as a potentially responsible party for allegedly generating waste that
was disposed of at the landfill.  The Company has reached a tentative agreement
in principle with the United States Environmental Protection Agency (USEPA) to
settle this matter for a nominal amount.  The Company has also received a
letter from a group of corporations which have entered into an agreement with
the USEPA to prepare a remedial design for curing a failed landfill site
in Circleville, Ohio.  The Company was identified as a potentially responsible
party for alleged waste disposal at the Circleville landfill.  The Company
believes that, based on the available information, the ultimate liability with
respect to these issues will not materially exceed $50,000 and has charged that
amount to expense in the quarter ended March 30, 1997.

YEAR 2000 COMPLIANCE

The information technology systems at LDM are not Year 2000 compliant. On or
before June 30, 1999, LDM will have purchased, implemented and tested new
information technology systems that are fully Year 2000 compliant. The
expenditure required to replace LDM's existing information  technology systems
with Year 2000 compliance systems is estimated to be $1 to  $3 million over the
next one and a half years. 
        
Item 8.      Financial Statements and Supplementary Data

             The response to this item is submitted as a separate section of
             this Form 10-K.  See Item 14.


Item 9.      Changes in and Disagreements with Accountants on Accounting and
             Financial Disclosure

             Not Applicable


                                    PART III


Item 10.     Directors and Executive Officers of the Registrant

             The names and ages of all executive officers and directors of the
Company are as follows:

<TABLE>
<CAPTION>
                                                                                                   HAS SERVED
                                                                                                   IN POSITION
               NAME                  AGE                          POSITION                            SINCE
               ----                  ---                          --------                         -----------
 <S>                                  <C>    <C>                                                      <C>
 Joe Balous  . . . . . . . .          72     Chairman of the Board, Secretary and Director            1985
 Richard J. Nash . . . . . .          53     Chief Executive Officer and Director                     1985
 Robert C. Vamos . . . . . .          51     President                                                1997
 Gary E. Borushko  . . . . .          52     Chief Financial Officer                                  1987
</TABLE>





                                       16
<PAGE>   18

<TABLE>
 <S>                                  <C>    <C>                                                      <C>
 Gordon F. Steil . . . . . .          48     Vice President of Engineering                            1991
 William Kessler . . . . . .          51     Vice President of Development                            1993
 Vincent P. Buscemi  . . . .          49     Group Vice President - Sales                             1991
 Michael T. Heneka . . . . .          50     Group Vice President - Sales                             1991
</TABLE>


             Directors of the Company are elected each year at the Annual
Meeting of Stockholders to serve for the ensuing year or until their successors
are elected and qualified.  The officers of the Company are elected each year
at the Annual Meeting of the Board of Directors to serve for the ensuing year
or until their successors are elected and qualified.

             Each of the directors of the Company has had the same principal
occupation during the past five years.

             All of the executive officers of the Company named above have held
various executive positions with the Company for more than five years except:
Mr. Vamos joined Molmec in 1992 as Vice President of Manufacturing and was
named President of Molmec in 1993.  Prior to 1992, he held various
manufacturing management positions with the Budd Company.  Upon LDM's
acquisition of Molmec in January 1997 he was named Executive Vice President of
Manufacturing of the Company and on September 2 , 1997 he was named to his
current position.  Mr. Kessler joined the Company in 1993.  Prior thereto he
was Vice President of Sales at Velcro Industries for 22 years.


Item 11.     Executive Compensation

             The following table sets forth the compensation paid to each of
the Company's five highest paid executive officers and significant employees
for fiscal year 1997.

                         SUMMARY COMPENSATION TABLE1(1)

<TABLE>
<CAPTION>
                                                                               OTHER ANNUAL        ALL OTHER
                  NAME                     YEAR      SALARY        BONUS       COMPENSATION       COMPENSATION
                  ----                     ----      ------        -----       ------------       ------------
 <S>                                       <C>     <C>           <C>           <C>                   <C>
 Richard J. Nash . . . . . . . . . .       1997     $ 550,000    $1,050,000                --          $3,562(2)
 President and Chief Executive Officer     1996       550,000       750,000                --           2,917(2)
                                           1995       550,000     1,000,000                --                 --
 Joe Balous  . . . . . . . . . . . .       1997            --            --     $1,420,000(3)                 --
 Chairman of the Board and Secretary       1996            --            --      1,395,000(3)                 --
                                           1995            --            --      1,185,000(3)                 --

 Gary E. Borushko                          1997       202,923       450,000                --                 --
 Chief Financial Officer                   1996       180,000            --                --                 --
                                           1995       180,000            --                --                 --

 Vincent P. Buscemi  . . . . . . . .       1997        45,000         9,000        376,692                    --
 Group Vice President - Sales              1996            --            --        446,346(4)                 --
                                           1995            --            --        448,326(4)                 --
</TABLE>





                                       17
<PAGE>   19

<TABLE>
 <S>                                       <C>         <C>               <C>       <C>                        <C>
 Michael T. Heneka . . . . . . . . .       1997        37,500            --        352,302                    --
 Group Vice President -- Sales             1996            --            --        419,398(4)                 --
                                           1995            --            --        336,481(4)                 --
</TABLE>

(1)      This table does not include any value that might be attributable to
         certain job related benefits, the amount of which for any executive
         officer does not exceed the lesser of $50,000 or 5% of combined
         salary and bonus for such executive officer.
(2)      Represents contributions to the Company's 401 (k) plan.
(3)      Consulting fees paid to a management company owned by Joe Balous.
(4)      Represents sales commission paid to a company owned by such
         individual.

                 The Company does not pay director fees to its two directors.
         The Company does not have a Compensation Committee and Messrs.
         Nash and Balous participate in all deliberations concerning executive
         officer compensation.

Item 12    Security Ownership of Certain Beneficial Owners and Management

           All of the outstanding capital stock of the Company is owned
beneficially and equally by Messrs. Richard J. Nash and Joe Balous.

Item 13.   Certain Relationships and Related Transactions.

           On April 22, 1996, the Company and its two stockholders entered
into a stock redemption agreement which provides that upon the death of either
stockholder, the Company is required to purchase, and their respective estates
are required to sell, all of the capital stock of the Company owned by such
stockholder, as the case may be, at a price equal to $33.0 million, which
amount would be payable upon receipt of the proceeds of life insurance policies
owned by the Company on each of the lives of the stockholders.  Pursuant to the
terms of the stock redemption agreement, the Company is required to maintain
life insurance policies of $33.0 million and $28.0 million on the lives of Mr.
Nash and Mr. Balous, respectively.  In March 1997, the Company purchased an
additional $5.0 million life insurance policy on the life of Mr. Balous to
fully fund the repurchase obligation for each stockholder.  The annual premiums
for such policies of insurance are approximately $1,050,000.

             Como, a 75% owned subsidiary of the Company, leases its general
office and plant facility and certain equipment from entities controlled by
such subsidiary's minority stockholder, Laurence M. Luke.  Payments pursuant to
these leases were $502,000 during fiscal year 1997.  Como also pays management
fees to Mr. Luke based on a percentage of sales.  Such management fees were
$63,055 during fiscal year 1997.

             During fiscal year 1997, the Company paid consulting fees of
$1,420,000 to a management company owned by Joe Balous.  The nature of the
services performed by Mr. Balous are development of corporate policy and
strategic planning, integration of recent acquisitions, and overseeing
facilities construction and leasehold improvements.  He had primary
responsibility for contract negotiations and construction of the Company's new
Auburn Hills office.





                                       18
<PAGE>   20


             The Company had in effect until June 30, 1997 Sales Representation
Agreements with sole proprietorships owned by Michael T. Heneka, Group Vice
President - Sales of the Company, and by Vincent P. Buscemi, Group Vice
President - Sales of the Company, which designated such persons as the  
Company's exclusive sales representatives to represent it in sales to certain
customers and provided for monthly payments plus a commission on the net
billings to certain customers. 

             In September 1996 the Company entered into a five-year lease for
its Troy offices with Messrs. Nash and Balous and a relative of one of them.
Monthly rent expense pursuant to this lease was $15,000 per month.  In July of
1997 the Company terminated the lease for the Troy offices and purchased Mr.
Nash's interest in the office for $714,000.  The office is currently leased to
an unaffiliated person at a rental of $13,750 per month.

             The terms of these leases are not the result of arms-length
bargaining; however, the Company believes that such leases and other
transactions described above are on terms no less favorable to the Company than
could be obtained if such leases, transportation or arrangements were
arms-length transactions with non-affiliated persons.

             It is the Company's policy to continue future transactions with
its affiliates as long as the terms of such transactions are fair and
reasonable and no less favorable to the Company than could have been obtained
through arms-length negotiations with an independent third party.



                                    PART IV

Item 14.     Exhibits, Financial Statement Schedules and Reports on Form 8-K

             (a)       The following documents are filed as a part of this
                       report:

1.           Financial Statements

             The following consolidated financial statements of LDM
             Technologies, Inc. and subsidiaries filed herewith.

             Consolidated Balance Sheets at September 28, 1997 and September
             29, 1996.





                                       19
<PAGE>   21


             Consolidated Statements of Income for each of the years in the
             three year period ended September 28, 1997.

             Consolidated Statements of Cash Flows for each of the years in the
             three year period ended September 28, 1997.

             Notes to Consolidated Financial Statements.

             All Schedules have been omitted because they are not applicable or
             are not required or the information to be set forth therein is 
             included in the Consolidated Financial Statements or Notes thereto.



                                       20
<PAGE>   22


                                    EXHIBITS

             The Exhibits marked with one asterisk below were filed as Exhibits
             to the Registration Statement of the Company on Form S-4 (No.
             333-21819) and the Exhibit marked with two asterisks below was
             filed as an Exhibit to the Form 8-K of the Company dated September
             30, 1997, and are incorporated herein by reference, the Exhibit
             numbers in brackets being those in such Registration Statement on
             Form 8-K Report.

EXHIBIT
NUMBER           DESCRIPTION OF EXHIBITS
------           -----------------------

3.1              Articles of Incorporation of LDM Technologies, Inc. (the
                 "Company"), as amended [3.1]*
3.2              By-laws of the Company [3.5]*
4.1              Indenture dated as of January 15, 1997 by and among the 
                 Company, LDM Holdings, LDM Partnership, LDM Canada and 
                 IBJ Schroder Bank & Trust Company, as Trustee [4.1]*
4.2              Form of 10  3/4% Senior Subordinated Note Due 2007, Series B
                 [4.2]* 4.3 Form of Guarantee [4.3]*
10.1(a)          Loan and Security Agreement dated as of January 22, 1997
                 ("Loan Agreement") by and between the Company, as Borrower, and
                 BankAmerica Business Credit, Inc. ("BankAmerica"), as Agent
                 for the Lenders [10.2]*
10.1(b)          First Amendment to Loan Agreement dated May 1, 1997.
10.1(c)          Amendment No. 2 and Affirmation of Guaranties to Loan 
                 Agreement dated as of July 14, 1997.
10.1(d)          Amendment No. 3 and Affirmation of Guaranties to Loan
                 Agreement dated as of September 30, 1997.
10.1(e)          Amendment No. 4 and Affirmation of Guaranties to Loan
                 Agreement dated as of November 25, 1997.
10.2             Intellectual Property Security Agreement dated as of
                 January 22, 1997 made by the Company in favor of 
                 BankAmerica, as Agent for Lenders [10.4]*
10.3             Stock Purchase Agreement among the Company and the various
                 stockholders of Kenco Plastics, Inc., a Michigan 
                 corporation, and Kenco Plastics, Inc., a Kentucky 
                 corporation, and Narens Design & Engineering Co., a Michigan 
                 corporation, dated September 30, 1997 [1].**
12               Statement of Ratio of Earnings to Fixed Charges
21               Subsidiaries and Affiliates of the Company
27               Financial Data Schedule




                                       21
<PAGE>   23

                 (b)  Reports on Form 8-K.  No reports on Form 8-K were filed
                 by the Registrant for the quarter ended September 29, 1997.





                                       22
<PAGE>   24





                         Report of Independent Auditors

Board of Directors
LDM Technologies, Inc.


We have audited the accompanying consolidated balance sheets of LDM
Technologies, Inc. as of September 28, 1997 and September 29, 1996, and the
related consolidated statements of income, stockholders' equity, and cash flows
for each of the three years in the period ended September 28, 1997.  These
financial statements are the responsibility of the Company's management. Our
responsibility is to express an opinion on these financial statements based on
our audits.

We conducted our audits in accordance with generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statements. An audit
also includes assessing the accounting principles used and significant
estimates made by management, as well as evaluating the overall financial
statement presentation. We believe that our audits provide a reasonable basis
for our opinion.

In our opinion, the financial statements referred to above present fairly, in
all material respects, the consolidated financial position of LDM Technologies,
Inc. at September 28, 1997 and September 29, 1996, and the consolidated results
of its operations and its cash flows for each of the three years in the period
ended September 28, 1997 in conformity with generally accepted accounting
principles.


Detroit, Michigan                                       ERNST & YOUNG LLP
November 26, 1997



                                     F-1
<PAGE>   25




                             LDM Technologies, Inc.

                          Consolidated Balance Sheets




<TABLE>
<CAPTION>
                                                         SEPTEMBER 28,  SEPTEMBER 29,
                                                             1997            1996
                                                         ----------------------------
<S>                                                      <C>            <C>
ASSETS
Current assets:
 Cash                                                     $  4,632,204    $  2,121,862
 Accounts receivable                                        45,812,140      35,481,400
 Inventories                                                15,048,043      11,833,202
 Mold costs                                                 13,825,884       7,128,974
 Prepaid expenses                                            2,054,780         454,427
 Refundable income tax                                         390,169         364,725
 Deferred income taxes                                       4,627,000         828,500
                                                          ----------------------------
Total current assets                                        86,390,220      58,213,090
Cash and equivalents restricted as to use                            -         658,018
Net property, plant and equipment                           82,258,943      58,955,956
Goodwill, net of accumulated amortization of $1,668,446     36,790,968               -
Debt issue costs, net of accumulated amortization of
 $599,172 in 1997 and $245,739 in 1996                       5,732,858         399,240
Other                                                        1,013,641         898,892
                                                          ----------------------------
Total assets                                              $212,186,630    $119,125,196
                                                          ============================
</TABLE>

                                     F-2
<PAGE>   26




                             LDM Technologies, Inc.

                          Consolidated Balance Sheets




<TABLE>
<CAPTION>
                                                SEPTEMBER 28,  SEPTEMBER 29,
                                                    1997            1996
                                                ----------------------------
<S>                                             <C>            <C>
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
 Lines of credit and revolving loan                $3,529,689      $1,800,976
 Lines of credit and revolving loan in default              -      19,134,290
 Accounts payable                                  28,152,353      30,834,395
 Demand notes payable to shareholders                  87,500          87,500
 Accrued liabilities                               15,662,166       7,597,886
 Accrued compensation                               4,616,091       4,201,751
 Advance mold payments from customers              11,082,095       3,661,046
 Income taxes payable                               1,639,764       2,459,567
 Current maturities of long-term debt                 979,340       1,320,583
 Long-term debt in default                                  -      27,421,760
                                                 ----------------------------
Total current liabilities                          65,748,998      98,519,754

Long-term debt due after one year                 122,260,891       2,020,845
Deferred income taxes                               3,512,500         841,000
Minority interest                                     279,341         421,532

Stockholders' equity:
 Common stock ($.10 par value; 100,000 shares
  authorized, 600 shares issued and outstanding)           60              60
 Additional paid in capital                            94,072          94,072
 Retained earnings                                 20,352,951      17,290,116
 Currency translation adjustments                     (62,183)        (62,183)
                                                 ----------------------------
Total stockholders' equity                         20,384,900      17,322,065
                                                 ----------------------------
Total liabilities and stockholders' equity       $212,186,630    $119,125,196
                                                 ============================
</TABLE>

See accompanying notes.


                                     F-3

<PAGE>   27




                             LDM Technologies, Inc.

                       Consolidated Statements of Income



<TABLE>
<CAPTION>

                                                           YEARS ENDED
                                          --------------------------------------------
                                          SEPTEMBER 28,   SEPTEMBER 29,   SEPTEMBER 24,
                                               1997            1996            1995
                                          --------------------------------------------
<S>                                       <C>             <C>             <C>
Net sales:
 Product sales                              $261,102,429    $192,470,660    $214,289,121
 Mold sales                                   31,917,332      25,288,234       6,702,224
                                            --------------------------------------------
                                             293,019,761     217,758,894     220,991,345
Cost of sales:
 Product cost of sales                       210,531,937     160,093,701     176,057,556
 Mold cost of sales                           30,397,588      22,802,654       6,350,269
                                            --------------------------------------------
                                             240,929,525     182,896,355     182,407,825
                                            --------------------------------------------
Gross margin                                  52,090,236      34,862,539      38,583,520
Selling, general and administrative
 expenses                                     35,561,182      26,418,453      23,514,930
                                            --------------------------------------------
Operating profit                              16,529,054       8,444,086      15,068,590
Other expenses:
 Interest                                     11,076,165       3,279,904       3,177,826
 Other, net                                      443,774          56,108         353,313
                                            --------------------------------------------
                                              11,519,939       3,336,012       3,531,139
                                            --------------------------------------------
Income from continuing operations
 before income taxes, minority interest
 and extraordinary item                        5,009,115       5,108,074      11,537,451
Provision for income taxes                     2,088,471       4,013,745       5,058,205
                                            --------------------------------------------
Income from continuing operations
 before minority interest and
 extraordinary item                            2,920,644       1,094,329       6,479,246
Minority interest                                142,191          79,078        (231,735)
                                            --------------------------------------------
Income from continuing operations
 before extraordinary item                     3,062,835       1,173,407       6,247,511
Extraordinary item, gain on debt
 refinancing, no income tax effect                     -         753,510               -
                                            --------------------------------------------
Income from continuing operations              3,062,835       1,926,917       6,247,511
Income (loss) from discontinued
 operations, net of income taxes
 and minority interest                                 -         (57,610)         86,546
                                            --------------------------------------------
Net income                                  $  3,062,835    $  1,869,307    $  6,334,057
                                            ============================================
</TABLE>

See accompanying notes.

                                     F-4
<PAGE>   28




                             LDM Technologies, Inc.

                Consolidated Statements of Stockholders' Equity




<TABLE>
<CAPTION>

                                                 ADDITIONAL                CURRENCY
                                  COMMON STOCK    PAID-IN     RETAINED    TRANSLATION
                                 SHARES  STOCK    CAPITAL     EARNINGS    ADJUSTMENTS     TOTAL
                                 -----------------------------------------------------------------
<S>                              <C>     <C>     <C>         <C>          <C>          <C>
Balance at September 25, 1994       700     $70    $109,751  $17,227,788     $(18,157) $17,319,452
 Net income for 1995                  -       -           -    6,334,057            -    6,334,057
 Currency translation adjustment      -       -           -            -      (18,495)     (18,495)
                                 -----------------------------------------------------------------
Balance at September 24, 1995       700      70     109,751   23,561,845      (36,652)  23,635,014
 Redemption of a stockholder's
  interest                         (100)    (10)    (15,679)  (8,141,036)           -   (8,156,725)
 Net income for 1996                  -       -           -    1,869,307            -    1,869,307
 Currency translation adjustment      -       -           -            -      (25,531)     (25,531)
                                 -----------------------------------------------------------------
Balance at September 29, 1996       600      60      94,072   17,290,116      (62,183)  17,322,065
 Net income for 1997                  -       -           -    3,062,835            -    3,062,835
                                 -----------------------------------------------------------------
Balance at September 28, 1997       600     $60     $94,072  $20,352,951     $(62,183) $20,384,900
                                 =================================================================
</TABLE>

See accompanying notes.

                                     F-5

<PAGE>   29

                             LDM Technologies, Inc.
                     Consolidated Statements of Cash Flows


<TABLE>
<CAPTION>

                                                                                     YEARS ENDED                      
                                                                     ------------------------------------------       
                                                                     SEPTEMBER 28,  SEPTEMBER 29   SEPTEMBER 24,      
                                                                         1997           1996           1995           
                                                                     ------------------------------------------       
<S>                                                                  <C>            <C>            <C>                
                                                                                                                      
OPERATING ACTIVITIES                                                                                                  
Net income                                                             $ 3,062,835    $ 1,869,307    $ 6,334,057      
Adjustments to reconcile net income to net cash                                                                       
  provided by operating activities:                                                                                   
    Depreciation and amortization                                       11,955,318      8,005,518      6,777,781      
    Extraordinary gain on retirement of debt                                     -       (753,510)             -      
    (Gain) loss on sale of property and equipment                         (155,545)       102,853        (39,318)     
    Deferred income taxes                                               (1,127,000)       382,981       (612,211)     
    Other                                                                  453,149       (505,206)       526,540      
    Changes in assets and liabilities, net of the 1996 effect of the 
      distribution of IMCA and the effect of 1997 acquisitions:
        Accounts and notes receivable                                   (5,458,267)    (7,379,182)    (1,916,290)  
        Refundable income taxes                                                  -       (364,725)             -   
        Inventory and mold costs                                        (4,954,299)      (974,530)    (1,258,995)  
        Prepaid expenses                                                (1,493,386)       (78,461)        59,861   
        Other assets                                                       414,884          6,997       (224,050)  
        Accounts payable and accrued liabilities                         7,356,770     12,247,032      5,253,495   
        Income taxes payable                                              (718,315)       352,912       (112,952)  
                                                                       -----------------------------------------   
Net cash provided by operating activities                                9,336,144     12,911,986     14,787,918   
                                                                                                                   
INVESTING ACTIVITIES                                                                                               
Purchase of Molmec (net of $2,704,958 cash acquired)                   (53,197,708)             -              -   
Additions to property, plant and equipment                             (12,775,603)   (20,286,378)   (15,149,972)  
Purchase of Kendallville                                                (7,158,703)             -              -   
Proceeds from disposal of property and equipment                         1,775,667        284,310        100,600   
Cash and cash equivalents restricted for construction of new                                                       
  corporate facility                                                       658,018      6,685,534     (7,343,552)  
Other                                                                     (484,412)     1,246,889     (1,222,779)  
                                                                       -----------------------------------------   
Net cash used for investing activities                                 (71,182,741)   (12,069,645)   (23,615,703)  
                                                                                                                   
FINANCING ACTIVITIES                                                                                               
Proceeds from issuance of long-term debt, (net of debt issuance                                                    
  costs of $6,038,503 in 1997)                                         103,961,497     19,993,597      9,000,000   
Payments on notes payable and long-term debt                           (22,198,981)   (16,134,416)    (3,529,752)  
Net (repayments) proceeds from borrowings on line of credit            (17,405,577)       832,776      3,831,837   
Redemption of stockholder's interest                                             -     (4,712,968)             -   
Other                                                                            -        162,683       (312,315)  
                                                                       -----------------------------------------   
Net cash provided by financing activities                               64,356,939        141,672      8,989,770   
                                                                       -----------------------------------------
Net increase in cash                                                     2,510,342        984,013        161,985   
Cash at beginning of year                                                2,121,862      1,137,849        975,864   
                                                                       -----------------------------------------   
Cash at end of year                                                    $ 4,632,204    $ 2,121,862    $ 1,137,849   
                                                                       =========================================   
Supplemental disclosure of cash flow information                                                                   
Interest paid                                                          $ 7,919,320    $ 2,502,411    $ 2,931,301   
Income taxes paid                                                      $ 3,996,264    $ 3,050,739    $ 5,328,489   
Interest capitalized                                                   $   311,578    $   780,478    $   161,770   
                                                                                                                   
</TABLE>

SUPPLEMENTAL DISCLOSURE OF NON-CASH TRANSACTIONS

On September 29, 1996, LDM Technologies, Inc. issued a note payable to a former
shareholder in the amount of $3,000,000 as part of the consideration for the
redemption of LDM Technologies, Inc. common stock owned by that shareholder.
In connection with that transaction, the stock of IMCA was distributed to the
former shareholder.

See accompanying notes.

                                     F-6


<PAGE>   30

                             LDM Technologies, Inc.

                   Notes to Consolidated Financial Statements



1.   OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES

BASIS OF PRESENTATION

The consolidated financial statements include the accounts of LDM Technologies,
Inc. (the "Company") and its subsidiaries, LDM Holdings, L.L.C., LDM Canada
Limited Partnership, LDM Holding Canada, Inc., LDM Holding Mexico, Inc.,
LDM Technologies Company ("LDM Canada"), LDM Technologies, S.de R.L. ("LDM
Mexico"), and G.L. Industries of Indiana, Inc. (d/b/a Como Products "Como"). All
subsidiaries are wholly owned with the exception of Como (75% owned) and LDM
Mexico (99% owned).  As of September 28, 1997, the Company, LDM Canada and Como
are the only operating entities.  All intercompany accounts and transactions
have been eliminated in consolidation.

DESCRIPTION OF BUSINESS

The Company's domestic automotive operations are conducted through
divisions and, in Canada, through LDM Canada. Such operations principally
consist of manufacturing of molded plastic interior and exterior trim and under
the hood components for sale principally to several North American automobile
manufacturers and their suppliers. Como is a manufacturer of molded plastic
products for end-use application primarily in the consumer appliance, office
products, and commercial furniture markets.

DISCONTINUED OPERATIONS

On September 29, 1996, the Company contributed $4 million in cash to the capital
of its 83% owned subsidiary, Industrial Machining Corporation of Arkansas
("IMCA") and immediately exchanged its stock in IMCA plus $500,000 in cash and a
two year 6.5% interest  bearing promissory note in the amount of $3 million for
all of the LDM stock held by the shareholder.  The acquired stock was
immediately retired.  No gain or loss was recorded and results of operation have
been classed as discontinued in the statement of income.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

FISCAL YEAR

The Company operates with a 52/53 week fiscal year ending on the last
Sunday in September. The fiscal years ended September 28, 1997, September 29,
1996 and September 24, 1995 included 52, 53 and 52 weeks, respectively.


                                     F-7
<PAGE>   31

                             LDM Technologies, Inc.

            Notes to Consolidated Financial Statements (Continued)



1. OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

USE  OF ESTIMATES

The preparation of financial statements in conformity with generally
accepted accounting principles requires management to make estimates and
assumptions that affect the reported amounts of assets and liabilities and
disclosure of contingent assets and liabilities at the date of the financial
statements. Estimates also affect the reported amounts of revenues and expenses
during the reporting period. Actual results could differ from those estimates.

CASH AND CASH EQUIVALENTS

At September 28, 1997, there were no restricted cash or cash
equivalents.  At September 29, 1996, approximately $658,000 of cash and cash
equivalents were held by a trustee and were restricted to expenditures for
construction of a new corporate headquarters facility.

INVENTORIES

Inventories are stated at the lower of cost or market using the first-in,
first-out method. Inventories at September 28, 1997 and September 29, 1996
consist of the following:

<TABLE>
<CAPTION>

                                1997          1996
                                ----          ----
<S>                         <C>           <C>
Raw materials and supplies   $ 8,902,283   $ 7,713,312
Work-in-process                2,105,126     1,368,032
Finished goods                 4,040,634     2,751,858
                             -------------------------
Total                        $15,048,043   $11,833,202
                             =========================
</TABLE>

MOLDS

Molds used in Company operations are requisitioned by the Company's
customers and are purchased from mold builders who design and
construct the molds under Company supervision. Upon delivery and
acceptance of the molds, title is passed to customers and revenue
is recognized.


                                     F-8

<PAGE>   32

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)



1.   OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

DEPRECIATION AND AMORTIZATION

Depreciation of property, plant and equipment is determined principally using
the straight-line method based upon the following estimated useful lives:

<TABLE>
<CAPTION>

                               ESTIMATED USEFUL
                                 LIFE (YEARS)
                              -----------------
<S>                              <C>
  Buildings and improvements      10 - 20
  Machinery and equipment          3 - 12
  Transportation equipment         3 - 10
  Furniture and fixtures           3 - 12
</TABLE>

Leasehold improvements are amortized using the straight-line method over the
useful life of the improvement or the term of the lease, whichever is less.

Goodwill is amortized over its estimated useful economic life of 15 years.  Its
carrying value is reviewed if circumstances suggest that it may be impaired. 
If this review indicates that goodwill will not be recoverable, as determined
based on the undiscounted cash flows of the entity acquired over the remaining
amortization period, the Company's carrying value of the goodwill will be
reduced by the estimated shortfall of discounted cash flows.

FAIR VALUES OF FINANCIAL INSTRUMENTS

The following methods and assumptions were used by the Company in estimating 
its fair value disclosures for financial instruments:

       Cash and cash equivalents: The carrying amount reported in the
       balance sheet for cash and cash equivalents approximates its
       fair value.

       Short and long-term debt: The carrying amounts of the
       Company's borrowings under its short-term revolving credit
       agreements approximate their fair value.  The Company's
       Senior Subordinated Notes carry fixed interest rates.  Smith
       Barney currently makes a market for the Notes.  As of
       September 28, 1997, the average of the bid and asking price
       was 108.25 giving a fair market value of $9.075 million
       above stated value ($110 million).  The remainder of the
       Company's long-term debt carries variable interest rates
       and, accordingly, the carrying amount approximates fair
       value.


                                     F-9

<PAGE>   33

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)



1.   OPERATIONS AND SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)

IMPACT OF ACCOUNTING STANDARDS ADOPTED IN THE FISCAL YEAR ENDING IN
SEPTEMBER, 1997

In March 1995, the Financial Accounting Standards Board issued  Statement No.
121, Accounting for the Impairment Long-lived Assets and for Long-lived Assets
to be Disposed Of, which requires impairment losses to be recorded on long-lived
assets used in operations when indicators of impairment are present and the
undiscounted cash flows estimated to be generated by those assets are less than
the asset's carrying amount.  Statement 121 also addresses the accounting for
long-lived assets that are expected to be disposed of.  The Company adopted
Statement 121 in the fiscal year ended September 1997 without material impact to
the financial condition or results of operations of the Company.

IMPACT OF ACCOUNTING STANDARDS TO BE ADOPTED SUBSEQUENT TO
SEPTEMBER, 1997

In June 1997, the Financial Accounting Standards Board issued Statement
No. 131, Disclosures about Segments of an Enterprise and Related Information,
which requires that a public business enterprise report financial and
descriptive information about its reportable operating segments.  At present the
Company is considering the impact of Statement 131 on its financial statements
and will adopt any necessary revisions to segmental analysis in the first
quarter of the fiscal year ending in September, 1998.

2. ACQUISITIONS

On November 4, 1996, the Company signed a definitive agreement to acquire
the business and certain net assets of Molmec, Inc. for $55.9 million in cash. 
The acquisition was consummated on January 17, 1997.  The fair value of the net
tangible assets acquired amounted to $19.1 million.

On May 1, 1997, the Company acquired the business and certain net assets
comprising the 'Kendallville' plant of Aeroquip Corporation for a consideration
of $7.2 million in cash.  The fair value of the net tangible assets acquired
amounted to $5.5 million.


                                     F-10

<PAGE>   34

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)



2. ACQUISITIONS (CONTINUED)

A summary of the allocation of purchase price of each of the acquisitions is
given below:

<TABLE>
<CAPTION>

                                     MOLMEC     KENDALLVILLE
                                   -------------------------
<S>                                <C>          <C>
Current assets                     $14,890,667    $1,748,791
Net property, plant and equipment   17,237,541     3,837,463
Long term debt                      (4,583,894)            -
Other liabilities                   (8,417,933)     (110,680)
                                   -------------------------
Net tangible assets                 19,126,381     5,475,574
Goodwill                            36,776,285     1,683,129
                                   -------------------------
Cost                               $55,902,666    $7,158,703
                                   =========================
</TABLE>

Both of the above acquisitions have been accounted for using the purchase
method. Accordingly, the assets acquired and the liabilities assumed have been
recorded at fair values and the excess of the purchase price over the net
tangible assets acquired recorded as an intangible asset to be amortized over 15
years.

The following unaudited pro forma condensed consolidated results of operations
of the Company, for the fiscal years ended September 28, 1997 and
September 29, 1996, gives effect to the above acquisitions and associated
financing as if such events had occurred on September 25, 1995.  The unaudited
pro forma consolidated financial information does not purport to represent what
the Company's financial position or results of operations would actually have
been had the transactions occurred on September 24, 1995 or to project the
Company's financial position or results of operations for any future date or
period.


                                     F-11

<PAGE>   35

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)



2. ACQUISITIONS (CONTINUED)

<TABLE>
<CAPTION>

IN THOUSANDS                                   YEAR ENDED     YEAR ENDED
                                              SEPTEMBER 28,  SEPTEMBER 29,
                                                  1997           1996
                                              ----------------------------
<S>                                                <C>            <C>
Net sales                                          $324,538       $314,691
Cost of sales                                       262,831        258,917
                                              ----------------------------
Gross margin                                         61,707         55,774
Selling, general and administrative expenses         41,274         42,035
Other expenses, principally interest                 14,505         13,324
                                              ----------------------------
Income from continuing operations before              
income taxes, minority interests and
extraordinary item                                    5,928            415
Provision for income taxes                            2,456          2,137
Income (loss) from continuing operations      ----------------------------
before minority interest                              3,472         (1,722)
Minority interest                                       142             79
                                              ----------------------------
Income (loss) from continuing operations             $3,614        $(1,643)
</TABLE>                                      ============================

3.   FOREIGN OPERATIONS

LDM Canada was capitalized in November, 1993 with $1,350,000 of
equity and approximately $2,000,000 of intercompany loans. In
November, 1993, LDM Canada purchased the business and certain
assets of a Canadian plastics manufacturer for cash of
approximately $17,428,500, which was funded with corporate cash of
$4,563,897 and $12,864,603 of bank loans.  In January, 1997, LDM
Canada was re-financed with inter company loans and additional
equity, which were funded with part of the proceeds of the Senior
Subordinated Notes, and existing loans were repaid.

In prior years, the Canadian dollar was considered to be the
functional currency for the Canadian operations.  During the
current fiscal year, as a result of the U.S. dollar based
re-financing and the volume of U.S. dollar denominated sales and
operating costs, the Company determined that the functional
currency of LDM Canada should be the U.S. dollar.  Accordingly long
lived assets and inter company debt has been translated at the
historical rate and exchange differences arising on translation
have been included in 1997 operations.


                                     F-12


<PAGE>   36


                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)



3.   FOREIGN OPERATIONS (CONTINUED)

The summarized financial position of LDM Canada at September 28,
1997 and September 29, 1996 is as follows:

<TABLE>
<CAPTION>

                                                   1997         1996
                                                ------------------------
<S>                                             <C>          <C>
Current assets                                  $24,998,244  $13,056,390
Property, plant and equipment                    16,238,750   16,040,296
Intangible assets                                         -      165,283
                                                ------------------------
Total assets                                    $41,236,994  $29,261,969
                                                ========================
Current liabilities (exclusive of intercompany
  payables)                                     $18,182,220  $25,419,352
Noncurrent liabilities                            1,713,628        2,407
Liabilities to LDM Technologies, Inc.:
  Loans                                          15,408,825    3,908,825
  Current trade payables and interest             2,085,924      654,327
Stockholder's equity (deficit)                    3,846,397     (722,942)
                                                ------------------------
Total liabilities and stockholder's equity      $41,236,994  $29,261,969
</TABLE>                                        ========================

Sales and net income of LDM Canada, included in the Company's
consolidated financial statements are as follows:

<TABLE>
<CAPTION>

                             YEAR ENDED SEPTEMBER
                        1997         1996         1995
                     -------------------------------------
<S>                  <C>          <C>          <C>
Sales                $45,461,786  $31,036,436  $33,777,902
Gross profit (loss)    2,325,689     (168,241)   4,008,490
Net income (loss)         63,033   (2,214,355)     165,263
</TABLE>

4.   EXTRAORDINARY ITEM

During the year ended September 29, 1996, LDM Canada retired notes
payable to Barclays Bank of Canada and Gentra Canada, resulting in
a $753,510 extraordinary gain on extinguishment.  Because of the
Canadian operating losses, there was no tax effect related to the
gain.


                                     F-13


<PAGE>   37

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)



5.   PROPERTY, PLANT AND EQUIPMENT

At September 28, 1997 and September 29, 1996, property, plant and equipment 
consists of the following:

<TABLE>
<CAPTION>
                                         1997         1996
                                     -----------   -----------
<S>                                 <C>           <C>
Land, buildings and improvements     $39,322,325   $27,657,829
Machinery and equipment               79,716,758    59,960,713
Transportation equipment               1,946,717     1,947,778
Furniture and fixtures                 4,226,559     2,703,408
Construction in process                1,982,548     3,515,676
                                     -----------   -----------
Total, at cost                       127,194,907    95,785,404
Less accumulated depreciation        (44,935,964)  (36,829,448)
                                     -----------   -----------
Net property, plant, and equipment   $82,258,943   $58,955,956
                                     ===========   ===========
</TABLE>

6.   LINES OF CREDIT AND REVOLVING DEBT

On January 22, 1997, the Company entered into a new five-year Senior Credit
Facility.  At September 28, 1997, the Senior Credit Facility is secured by
substantially all of the assets of the Company and its guarantors (LDM 
Holdings, L.L.C., LDM Canada Limited Partnership and LDM Technologies Company). 
The Senior Credit Facility provides for advances up to (i) 85% of eligible
accounts receivable, and (ii) the lesser of $12 million or 60% of eligible
inventory, up to a maximum availability of $45 million. The Senior Credit
Facility provides for the issuance of commercial and stand-by letters of credit
up to a portion of the $45 million Senior Credit Facility.  The Senior Credit
Facility bears interest at rates based upon a prime or LIBOR rate, in each case
plus an applicable basis point spread; and provides that the Company will pay
an issuance fee with respect to letters of credit based on a percentage of the
full amount of such letters of credit, and an unused line fee equal to a
percentage of the unused portion of the Senior Credit Facility.  The Senior
Credit Facility contains customary covenants, including financial covenants
relating to, among other things, fixed charge coverage ratios, capital
expenditure limitations and profitability.

The Company had borrowings outstanding under the Senior Credit Facility at
September 28, 1997 of $1.7 million. Borrowings  available under the line of
credit were $25.1 million at September 28, 1997.  Subsequent to the year end
the maximum availability under the Senior Credit Facility was increased to $65
million.


                                     F-14


<PAGE>   38

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)



6.   LINES OF CREDIT AND REVOLVING DEBT (CONTINUED)

Como has a line of credit with a bank in an amount not to exceed at any
time the lesser of $3.5 million or the sum of 80% of eligible accounts
receivable plus the lesser of 50% of eligible inventory or $1 million.  The
outstanding balance on the line of credit was $1.7 million and $1.6 million at
September 28, 1997 and September 30, 1996, respectively.  The line of credit
bears interest at the prime rate plus 0.5% (9% in 1997).  The line of credit is
collateralized by substantially all the assets of Como and is guaranteed by LDM
Technologies, Inc. subject to a limit of $1 million.  Additional borrowing
availability on the line of credit was approximately $750,000 at September 28,
1997.  The original agreement expired in January 1997, has not been formally
replaced, and is currently operating on a day-by-day basis.

Como has borrowings under revolving debt of $180,000 due October 30, 1997, 
collateralized by certain Company assets.  Interest is payable monthly at a 
variable rate (approximately 9.5% in 1997).

Summary of line of credit and revolving debt at September 28, 1997:

<TABLE>
<CAPTION>
                                            SEPTEMBER 28,    SEPTEMBER 29,
                                                 1997           1996
                                            ------------------------------ 
<S>                                         <C>               <C>          
Borrowings under lines of credit:                                          
  LDM Technologies Inc                      $ 1,700,000        $         - 
  LDM Canada - In Default                             -          3,634,290 
  Como                                        1,649,689          1,620,976 
                                            ------------------------------ 
                                              3,349,689          5,255,266 
Borrowings under revolving debt:                                           
  LDM Technologies, Inc. - In Default 1996            -         15,500,000 
  Como                                          180,000            180,000 
                                            ------------------------------ 
                                            $ 3,529,689        $20,935,266
                                            ==============================
</TABLE>

There were no borrowings in default at September 28, 1997. Borrowings in 
default and not in default in aggregate for the year ended September 29, 1996 
amounted to $19,134,290 and $1,800,976 respectively.

The weighted average interest rate on all short-term borrowings as of September
28, 1997 and September 29, 1996 was 8.66% and 7.91%, respectively.


                                     F-15


<PAGE>   39

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)



7.   LONG-TERM DEBT

On January 22, 1997, the Company issued, in a private placement, 10 3/4%
Senior Subordinated Notes due 2007, Series A, with an aggregate principal
amount of $110 million.  The net proceeds of the Offering, which amounted to
$104 million, were used to repay debt in default amounting to $27.3 million, to
repay a $2.7 million note payable to a former shareholder, to fund the $55.9
million acquisition of Molmec, to re-finance LDM Canada and for general
corporate purposes.

On April 29, 1997, the Company exchanged its 10 3/4% Senior
Subordinated Notes due 2007, Series A, for 10 3/4% Senior Subordinated Notes
due 2007, Series B ("the Notes").  The terms of the Series B Notes are
identical to those of the Series A Notes, except for certain transfer
restrictions and registration rights relating to the Series A Notes.

The Indenture under which the Notes were issued contains certain
covenants, including limitations on the following matters: (i) the incurrence
of additional indebtedness, (ii) the issuance of preferred stock by
subsidiaries, (iii) the creation of liens, (iv) restricted payments, (v) the
sales of assets and subsidiary stock, (vi) mergers and consolidations, (vii)
payment restrictions affecting subsidiaries and (viii) transactions with
affiliates.

Interest on the Notes is payable semi-annually at 10 3/4%.  The Notes are
subject to redemption on or after January 15, 2002, at  the option of the
Company, in whole or in part, at redemption prices ranging from 105.375% to
100% of the principal amount.  Up to 25% of the Notes may be redeemed on or
before January 15, 2000, at 110.75% of the principal amount in the event of a
Public Equity Offering.  At September 28, 1997, the Notes are guaranteed by
certain subsidiaries of the Company namely LDM Holdings, L.L.C., LDM Canada
Limited Partnership and LDM Canada but not by Como or LDM Mexico.  Supplemental
financial information for the guarantor and non-guarantor subsidiaries is
disclosed in Note 14.

The notes rank subordinate in right of payment to all existing and future 
Senior Debt.

The Company also obtained a replacement letter of credit with respect
to its $8.8 million Multi-Option Adjustable Rate Notes and on acquisition of
Molmec assumed Molmec's Variable Rate Demand Limited Obligation Revenue Bonds 
with an aggregate principal amount of $4,415,000.


                                     F-16


<PAGE>   40

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)



7.   LONG-TERM DEBT (CONTINUED)

Long-term debt at September 28, 1997 and September 29, 1996 consists of the
following:

<TABLE>

                                                    1997             1996
                                                    ----             ----
<S>                                             <C>              <C>
 Senior Subordinated Notes due 2007.              $110,000,000             -

  Multi-Option Adjustable Rate Notes, principal
   payable in various annual installments
   ranging from $240,000 to $780,000 through
   April 1, 2015, plus interest payable monthly
   at the higher of the 30 day commercial paper
   rate or 90 day commercial paper rate (5.5% at
   September 28, 1997).  Borrowings are
   collateralized by the corporate headquarters
   facility which has a carrying value of
   approximately $15,941,000 at September 28,
   1997.                                             8,580,000     8,800,000

 Variable Rate Demand Limited Obligation             
  Revenue Bonds, principal payable in various
  annual installments through December 1, 2009,
  ranging from $630,000 to $160,000, plus
  variable interest (subject to a maximum of
  12%), payable semi-annually (3.9% during the
  year ended September 28, 1997),
  collateralized by a letter of credit.              4,415,000             -

 Other                                                 245,231       341,428

 Term loans payable to the Bank of Nova Scotia.              -     9,640,649

 Notes payable to Huntington National Bank                   -     8,981,111

 Note payable to former shareholder                          -     3,000,000
                                                  --------------------------
 Total                                            $123,240,231    30,763,188

 Current maturities of long-term debt                 (979,340)   (1,320,583)
 Long-term debt in default                                   -   (27,421,760)
                                                  --------------------------
 Long-term debt due after one year                $122,260,891    $2,020,845
                                                  ===========================
</TABLE>


                                     F-17


<PAGE>   41

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)



7.   LONG-TERM DEBT (CONTINUED)

LDM Technologies, Inc. has the option to convert the interest rate on
the Multi-Option Adjustable Rate Notes to the Six Month, One Year, Three Year,
Five Year, Seven Year, or the Fixed Interest Rates Modes.


Annual maturities of long-term debt are as follows:

<TABLE>
<CAPTION>

                FISCAL YEAR
                <S>            <C>
                 1998           $    979,340
                 1999                900,412
                 2000                920,479
                 2001                900,000
                 2002                950,000
                 Thereafter      118,590,000
                                ------------
                 Total          $123,240,231
                                ============
</TABLE>

8.   SEGMENT DATA FROM CONTINUING OPERATIONS

The Company currently operates in two principal industries; automotive
components and consumer products. Machined parts operations for marine outboard
engine manufacturers were discontinued in 1996. The Company's automotive
components include the design and manufacture of plastic injection molded
products for certain North American original equipment manufacturers of cars,
minivans and sport utility vehicles. The Company's products include exterior
and interior trim and under the hood components. The Company's consumer
products segment manufactures plastic molded products for the consumer
appliance, office products and commercial furniture markets.


                                     F-18


<PAGE>   42

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)


8.   SEGMENT DATA FROM CONTINUING OPERATIONS (CONTINUED)

<TABLE>
<CAPTION>
                                                                                   
                                                      YEAR  ENDED                  
                                      -------------------------------------------- 
                                      SEPTEMBER 28,  SEPTEMBER 29,   SEPTEMBER 24, 
                                          1997           1996            1995      
                                      -------------------------------------------- 
<S>                                   <C>            <C>             <C>           
Net sales:                                                                         
 Automotive products:                                                              
  U.S. operations                      $225,744,979    $161,060,637   $154,592,897 
  Canadian operations                    45,461,786      36,970,296     34,709,953 
                                       ------------------------------------------- 
                                        271,206,765     198,030,933    189,302,850 
 Consumer and other non                                                            
  automotive products--Como              23,245,813      22,058,056     31,845,361 
 Eliminations -- inter-segment                                            
  sales                                  (1,432,817)     (2,330,095)      (156,866)
                                       ------------------------------------------- 
Total                                  $293,019,761    $217,758,894   $220,991,345 
                                       =========================================== 
                                                                                   
Operating profit (loss):                                                           
 Automotive products:                                                              
  U.S. operations                      $ 16,635,433    $  9,712,195   $ 10,254,006 
  Canadian operations                       752,938      (1,444,962)     2,300,345 
                                       ------------------------------------------- 
                                         17,388,371       8,267,233     12,554,351 
 Consumer and other non                                                            
  automotive products--Como                (859,317)        176,853      2,514,239 
                                       ------------------------------------------- 
Total                                    16,529,054       8,444,086     15,068,590 
Corporate expenses, net                     443,774          56,108        353,313 
Interest expense                         11,076,165       3,279,904      3,177,826 
                                       ------------------------------------------- 
Income from continuing                                                             
  operations before taxes,                                                         
  minority interest and                                                            
  extraordinary item                   $  5,009,115    $  5,108,074   $ 11,537,451 
                                       =========================================== 
</TABLE>   


                                     F-19

<PAGE>   43

                            LDM Technologies, Inc.

            Notes to Consolidated Financial Statements (Continued)



8.   SEGMENT DATA FROM CONTINUING OPERATIONS (CONTINUED)

<TABLE>
<CAPTION>
                                                     YEAR ENDED                      
                                -----------------------------------------------------
                                  SEPTEMBER 28,     SEPTEMBER 29,      SEPTEMBER 24, 
                                    1997                1996               1995     
                                -----------------------------------------------------
<S>                             <C>              <C>                   <C>          
Identifiable assets:                                                                 
 Automotive products:                                                                
  U.S. operations                 $163,576,672      $ 81,966,346       $ 75,402,101
  Canadian operations               40,848,228        29,019,086         22,418,557
                                -----------------------------------------------------
                                   204,424,900       110,985,432         97,820,658
 Consumer and other non                                                            
  automotive products--Como          7,761,730         8,139,764          8,493,987
                                -----------------------------------------------------
Total assets                      $212,186,630      $119,125,196       $106,314,645
                                =====================================================
Depreciation and amortization 
 expense:                                                                
 Automotive products:                                                                
  U.S. operations                 $  9,054,516      $  5,274,032       $  4,583,521
  Canadian operations                2,140,766         2,019,437          1,423,101
                                -----------------------------------------------------
                                    11,195,282         7,293,469          6,006,622
 Consumer and other non                                                              
  automotive products--Como            760,036           614,952            671,775
  Discontinued operations                    -            97,097             99,384
                                -----------------------------------------------------
Total depreciation and                                                             
 amortization                     $ 11,955,318      $  8,005,518       $  6,777,781
                                =====================================================
Capital expenditures:                                                                
 Automotive products:                                                                 
  U.S. operations                 $ 10,521,216      $ 17,294,489       $ 12,248,949
  Canadian operations                2,174,169         2,502,058          2,219,873
                                -----------------------------------------------------
                                    12,695,385        19,796,547         14,468,822
 Consumer and other non                                                            
  automotive products--Como             80,218           401,048            387,365
 Discontinued operations                     -            88,783            293,785
                                -----------------------------------------------------
Total capital expenditures        $ 12,775,603      $ 20,286,378       $ 15,149,972
                                =====================================================
</TABLE>

Headings above denoting U.S. operations and Canadian operations represent,
respectively, LDM Technologies, Inc. and LDM Canada.
        
Operating profit is total revenue less operating expenses, excluding interest
expense and general corporate expenses. Identifiable assets by industry include
assets directly identified with those operations.
        

                                     F-20
<PAGE>   44

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)



8.   SEGMENT DATA FROM CONTINUING OPERATIONS (CONTINUED)

During the years ended September 1997, 1996 and 1995, approximately
93%, 90% and 86% of consolidated sales were to customers in the
automotive industry. Following is a summary of customers that
accounted for more than 10% of consolidated net product sales:

<TABLE>
<CAPTION>

                                            YEAR ENDED
                            -------------------------------------------
                            SEPTEMBER 28,  SEPTEMBER 29,  SEPTEMBER 24,
                                1997           1996           1995
                            -------------------------------------------
<S>                         <C>            <C>            <C>
Ford Motor Company           $114,446,000    $71,519,000    $60,925,000
General Motors Corporation     88,818,000     79,640,000     87,657,000
Volkswagen A.G                 15,856,000     19,172,000     25,963,000
                            -------------------------------------------
</TABLE>

As of September 28, 1997, receivables from Ford Motor Company,
General Motors Corporation, and Volkswagen A.G. represented 50%,
30% and 2% of total accounts receivable, respectively, and at
September 29, 1996 receivables from said customers were 41%, 35%
and 2% of total accounts receivable, respectively.

9.   RELATED PARTY TRANSACTIONS

Como leases its general office and plant facilities, in addition to
certain computer and manufacturing equipment, from corporations
whose directors and stockholders include Como's minority
stockholder. Lease rental payments made to these corporations for
1997, 1996, and 1995 were $502,000, $487,000, and $533,300,
respectively. Como also pays management fees to its minority
stockholder based on a percentage of sales. Selling, general and
administrative expenses include $63,055, $120,799, and $205,611 in
1997, 1996 and 1995, respectively, for management fees to the
minority stockholder.

Through July 15, 1997, the Company leased certain corporate 
administrative facilities from its shareholders. Lease rental 
payments were $110,000 for the year ended September 28, 1997 
and $156,000 for each of its two years ended in September, 
1996 and 1995.  The Company also paid the repairs and 
maintenance, insurance and property taxes on these facilities.
During July, 1997, the Company purchased a 50% interest in the 
administrative facilities it previously leased from its 
shareholders.  The purchase price totaled $714,000.

The Company formerly purchased tooling services from a related
entity, which is owned by its stockholders. Such purchases totaled
approximately $1,376,000 for the fiscal year ended in 1995.  No
such purchases were made in fiscal years ended in 1996 or 1997.


                                     F-21


<PAGE>   45
                            LDM Technologies, Inc.

            Notes to Consolidated Financial Statements (Continued)



10.  INCOME TAXES

The Company's provision for income taxes for continuing operations for the
years ended September 28, 1997, September 29, 1996 and September 24, 1995 is
comprised of the following:
        
<TABLE>
<CAPTION>                                                                  
                                           1997        1996        1995    
                                       ------------------------------------
<S>                                     <C>         <C>         <C>        
Domestic:                                                                  
 Federal:                                                                  
  Current                               $2,789,454  $2,770,364  $4,515,416 
  Deferred                                (262,483)    612,181    (693,716)
                                       ------------------------------------
                                         2,526,971   3,382,545   3,821,700 
State and local:                                                           
 Current                                   405,600     840,400   1,138,960 
 Deferred                                  (29,100)     16,800     (14,400)
                                       ------------------------------------
                                           376,500     857,200   1,124,560 
Foreign:                                                                   
 Current                                    20,417      20,000      16,120 
 Deferred                                 (835,417)   (246,000)     95,825 
                                       ------------------------------------
                                          (815,000)   (226,000)    111,945 
                                       ------------------------------------
Total income tax provision              $2,088,471  $4,013,745  $5,058,205 
                                       ====================================
</TABLE>

Deferred income taxes are provided for the temporary differences between the
financial reporting basis and tax basis of the Company's assets and
liabilities. At September 28, 1997 and September 29, 1996 deferred tax assets
and liabilities are comprised of the following:
        
<TABLE>
<CAPTION>
                                                       1997         1996      
                                                   ---------------------------
<S>                                                 <C>         <C>           
  Deferred tax assets:                                                        
   Canadian net operating loss carryovers           $2,480,000     $2,528,000 
   Accounts receivable                                 139,000         69,700 
   Inventory                                           640,000        256,600 
   Other accrued liabilities                           585,000        167,700 
   Employee benefits                                   783,000        334,500 
                                                   ---------------------------
 Total deferred tax assets                           4,627,000      3,356,500 
 Less valuation allowances for Canadian loss                                  
  carryovers                                                 -       (728,000) 
                                                   ---------------------------
 Total net deferred tax asset                        4,627,000      2,628,500 
                                                    
 Deferred tax liabilities:                                                    
  Property, plant and equipment                      3,512,500      2,641,000 
                                                   ---------------------------
 Net deferred tax asset (liability)                 $1,114,500      $ (12,500)
                                                   ===========================

</TABLE>

                                     F-22
<PAGE>   46

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)


10.  INCOME TAXES (CONTINUED)

A reconciliation of the Company's income tax expense at the federal
statutory tax rate to the actual income tax expense follows:

<TABLE>
<CAPTION>

                                                      YEAR  ENDED
                                      ------------------------------------------
                                      SEPTEMBER 28,  SEPTEMBER 29,  SEPTEMBER 24,
                                          1997           1996           1995
                                          ----           ----           ----
<S>                                   <C>            <C>            <C>
Tax at federal statutory rate of 34%     $1,703,000     $1,736,745     $3,922,733
State and local taxes, net of
 federal tax  effect                        248,500        565,762        742,210
Settlement of prior years' income
 tax liabilities                                  -        581,574              -
Nondeductible expenses                      741,971        211,474        314,430
Reversal of valuation allowance for
 Canadian loss carryovers                  (728,000)              -              -
Effect of unrealized Canadian tax
 losses                                           -        857,000              -
Other, net                                  123,000         61,190         78,832
                                         ----------------------------------------
Provision for income taxes               $2,088,471     $4,013,745     $5,058,205
                                         ========================================
</TABLE>

For Canadian income tax purposes, approximately $7,294,000 of net
operating losses are available at September 28, 1997 for carryover
against taxable income in future years.  These carryovers expire
$1,082,000 in 2002, $4,730,000 in 2003 and $1,482,000 in 2004.  The
net operating loss carry forwards include timing differences,
principally tax depreciation in excess of financial statement
depreciation, of approximately $5,027,000, for which a $1,709,000
deferred tax liability has been recorded.



                                     F-23

<PAGE>   47

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)



11.  RETIREMENT AND PROFIT SHARING PLANS

The Company provides defined contribution retirement plans to
substantially all employees of LDM Technologies, Inc. and Como.
Contributions by the Company are based on matching 50% of employees
contributions, up to a maximum of 3% of earnings.  Costs under the
plans amounted to $296,410, $251,732, and $256,482 in 1997, 1996
and 1995, respectively.

12.  COMMITMENTS AND CONTINGENCIES

LEASES AND PURCHASE COMMITMENTS

The Company leases certain of its facilities, furniture and
fixtures, and equipment. Rental expense, including short-term
cancelable leases, approximated $2,227,000, $1,865,000, and
$2,000,000 for the years ended September 28, 1997, September 29,
1996 and September 24, 1995, respectively. Future commitments under
noncancelable operating leases are as follows:

<TABLE>
<CAPTION>
                                                             
                         RELATED    UNRELATED
FISCAL YEAR              PARTIES     PARTIES       TOTAL
-----------             ------------------------------------
<S>                     <C>         <C>           <C>
1998                    $  509,412  $1,846,979    $2,356,391
1999                       509,412   1,710,384     2,219,796
2000                       509,412   1,462,258     1,971,670
2001                       509,412   1,203,884     1,713,296
2002                       509,412     906,920     1,416,332
Thereafter                 254,706   1,027,228     1,281,934
                        ------------------------------------
Total                   $2,801,766  $8,157,653   $10,959,419
</TABLE>                ====================================



                                     F-24
<PAGE>   48

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)


12.  COMMITMENTS AND CONTINGENCIES (CONTINUED)

STOCK REDEMPTION AGREEMENT

The Company and its two shareholders are party to a binding stock redemption 
agreement providing the following:

     -    Upon the death of each shareholder, the Company is
          required to purchase and the shareholder's estate is
          required to sell all of the shareholder's stock at a
          price equal to $33,000,000. This amount is payable upon
          receipt of the proceeds of the life insurance policies
          owned by the Company on the shareholders life. Any
          shortfall between the insurance proceeds and the amount
          payable to the shareholder's estate will require funding
          by the Company, subject to restrictions in the Company's
          loan agreements.

     -    The Company is required to purchase and maintain
          life insurance policies of $33,000,000 on the lives of
          each of the shareholders for as long as the Stock
          Redemption Agreement is in effect. The aggregate premium
          for these policies presently approximates $1 million per
          year. Further, the Company is prohibited from assigning,
          pledging or borrowing against these life insurance
          policies without the consent of the insured shareholder.

     -    The Agreement may be terminated by mutual agreement
          of all parties or by any shareholder with respect to that
          shareholder's stock only.

CONTINGENCIES

Environmental Matters

The Company has an outstanding notification of violation or possible
violation of certain permitted air emission levels for organic compounds at one
of its plants. It is the Company's policy to accrue environmental expenses when
it is both probable that a liability has been incurred and the amount can be
reasonably estimated. The Company believes that, based on available
information, the ultimate liability with respect to this case will not
materially exceed the recorded liability of $160,000; however, the ultimate
resolution of such matters cannot be predicted with certainty.

The Company settled on an emission violation at a second facility during fiscal
year 1997 for $188,000 of which $150,000 had been accrued in prior years
and $38,000 was expensed in the current year.


                                     F-25
<PAGE>   49

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)


12.  COMMITMENTS AND CONTINGENCIES (CONTINUED)

The Company previously received letters from a corporation and a group
of corporations, which have entered into agreements with the United States
Environmental Protection Agency ("USEPA") to prepare remedial designs for
curing two separate failed landfill sites. In each letter, the Company was
identified as a potentially responsible party for its alleged waste disposal at
such landfills. In the first case, a lawsuit was brought against the Company
for which the USEPA subsequently agreed to provide contribution protection on
payment of a nominal fee.  Although subject to approval by the United States
Assistant General Attorney, the plaintiff has indicated they will dismiss the
lawsuit.  In the second case, no lawsuit has yet been filed and the Company has
no reason to believe that any liability associated with the particular landfill
will materially exceed the recorded liability of $50,000; however the ultimate
outcome of such matters cannot be predicted with certainty.

LITIGATION

During 1996 the Company issued purchase orders for certain equipment amounting
to approximately $10 million.  Subsequently the Company canceled the orders but
in the fourth quarter of 1997 was sued by the supplier for damages and for
specific performance under the contract.  Based, in part, on the advice of
legal counsel, the Company believes it can settle this litigation for
approximately $1 million and has accrued this amount in the financial
statements for the year ended September 28, 1997.

The Company accrues contingent liabilities when it is probable that future
costs will be incurred and such costs can be reasonably estimated.  Such
accruals are based on developments to date, the Company's estimates of the
outcomes of these matters and its experience in contesting, litigating and
settling other matters. As the scope of the liabilities becomes better defined,
there will be changes in the estimates of future costs; however the
Company does not believe any such charges will have a material effect on the
Company's future results of operations and financial condition or liquidity.


                                     F-26
<PAGE>   50

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)

13.  SUBSEQUENT EVENTS (UNAUDITED)

BUSINESS ACQUISITIONS

On September 30, 1997, the Company acquired the entire voting stock of
Kenco Plastics, Inc. (Michigan) and Kenco Plastics, Inc. (Kentucky) and the
business and net tangible assets of Narens Design and Engineering, Inc. for
approximately $27.5 million in cash, subject to certain adjustments.  The
acquisition was financed with additional borrowings under the existing Senior
Credit Facility.

On November 25, 1997, the Company acquired the business and certain assets
comprising the 'Beienheim' plant of Aeroquip Corporation for approximately
$8.6 million in cash, subject to certain adjustments. The acquisition was
financed with additional borrowings under the existing Senior Credit Facility.

A summary of the preliminary allocation of the purchase price of each of
the above acquisitions is as follows (amounts may be subject to change on
completion of the respective closing processes):

<TABLE>
<CAPTION>

IN THOUSANDS                         KENCO    BEIENHEIM
                                     ------------------
<S>                                <C>        <C>
Current assets                       $12,732     $5,643
Net property, plant and equipment     13,373      5,532
Other liabilities                     (6,705)    (2,540)
                                     ------------------
Net tangible assets                   19,400      8,635
Goodwill                               8,100          -
                                     ------------------
Cost                                 $27,500     $8,635
                                     ==================
</TABLE>

The acquisitions will be accounted for using the purchase method.
Accordingly, the assets acquired and the liabilities assumed will
be recorded at fair values and the excess of the purchase price
over the net assets acquired will be recorded as goodwill and
amortized over 15 years.


                                     F-27
<PAGE>   51

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)


13.  SUBSEQUENT EVENTS (UNAUDITED) (CONTINUED)

The unaudited pro forma condensed consolidated results of operations of the
Company for the fiscal year ended September 28, 1997, shown below, gives effect
to the Molmec acquisition, the Kendallville acquisition, the Senior Credit
Facility and the Initial Offering and the Kenco and Beienheim acquisitions as
if such transactions had occurred on September 30, 1996. The unaudited pro
forma consolidated financial information relies on preliminary information
regarding the allocation of purchase price which may be subject to change when
finalized.  The unaudited pro forma consolidated financial information does not
purport to represent what the Company's financial position or results of
operations would actually have been had the transactions occurred on the dates
indicated above or to project the Company's results of operations for any
future period.

<TABLE>
<CAPTION>
                                                           YEAR ENDED    
                                                         SEPTEMBER 28,   
                                                              1997       
                                                         -------------   
                                                         (IN THOUSANDS)  
<S>                                                      <C>             
Net sales                                                   $416,520  
Cost of sales                                                340,840  
                                                            --------     
Gross margin                                                  75,680  
Selling, general and administrative expenses                  47,326  
Other expenses, principally interest                          17,681  
                                                            --------     
Income from continuing operations before income             
  taxes and minority interests                                10,673  
Provision for income taxes                                     4,762  
                                                            --------     
Income from continuing operations before minority              
  interest                                                     5,911  
Minority interest                                                142  
                                                            --------     
Income from continuing operations                           $  6,053  
                                                            ========  
</TABLE>                                                              


                                     F-28


<PAGE>   52

                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)

14.  SUPPLEMENTAL GUARANTOR INFORMATION


The $110 million 10 3/4% Senior Subordinated Notes due 2007, the Senior Credit
Facility, the standby letters of credit with respect to the $8.8 million
Multi-Option Adjustable Rate Notes and the $4.4 million Variable Rate Demand
Limited Obligation Revenue Bonds are obligations of LDM Technologies, Inc. The
obligations are guaranteed fully, unconditionally and jointly and severally by
LDM Canada and certain holding companies as described above.  The non-guarantor
subsidiaries are Como and LDM Mexico.

Supplemental consolidating financial information of LDM Technologies, Inc., LDM
Canada (including the related holding company guarantors) and combined Como and
LDM Mexico (the "non-guarantor subsidiaries") is presented below.  LDM Mexico
did not have any operations prior to 1996 and ceased operations during  the
1997 fiscal year.  Investments in subsidiaries are presented on the equity
method of accounting.  Separate financial statements of the guarantors are not
provided because management has concluded that the segment information in Note
8 and the summarized financial information below provide sufficient information
to allow investors to separately determine the nature of the assets held by and
the operations of LDM Technologies, Inc., and the guarantor and non-guarantor
subsidiaries.


                                     F-29
<PAGE>   53
                            LDM Technologies, Inc.

            Notes to Consolidated Financial Statements (Continued)


14.  SUPPLEMENTAL GUARANTOR INFORMATION (CONTINUED)

               CONSOLIDATING BALANCE SHEET AT SEPTEMBER 28, 1997



<TABLE>
<CAPTION>

                                                          UNCONSOLIDATED
                                            -----------------------------------------
                                                 LDM                        NON-
                                            TECHNOLOGIES,       LDM       GUARANTOR      CONSOLIDATING
                                                 INC.         CANADA     SUBSIDIARIES       ENTRIES       CONSOLIDATED
                                            --------------------------------------------------------------------------
ASSETS
<S>                                         <C>             <C>          <C>            <C>              <C>
Current assets:
  Cash                                        $     11,600  $ 4,598,044     $   22,560                    $  4,632,204
  Accounts receivable                           40,102,307    6,688,426      1,773,227    $ (2,751,820)     45,812,140
  Note receivable affiliates                    16,097,525                                 (16,097,525)
  Inventories                                   10,893,566    2,113,707      2,040,770                      15,048,043
  Mold costs                                     3,887,517    8,901,850      1,036,517                      13,825,884
  Prepaid expenses                               1,852,006      121,217         81,557                       2,054,780
  Refundable income taxes                                -                     390,169                         390,169
  Deferred income taxes                          1,851,700    2,575,000        200,300                       4,627,000
                                              ------------------------------------------------------------------------
Total current assets                            74,696,221   24,998,244      5,545,100     (18,849,345)     86,390,220


Net property, plant and equipment               64,072,964   16,238,750      1,947,229                      82,258,943
Investment in subsidiaries                       4,318,618                                  (4,318,618)
Goodwill                                        36,790,968                                                  36,790,968
Debt issue costs                                 5,732,858                                                   5,732,858
Other                                              679,703                     333,938                       1,013,641
                                              ------------------------------------------------------------------------
                                              $186,291,332  $41,236,994     $7,826,267    $(23,167,963)   $212,186,630
                                              ========================================================================

LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
  Lines of credit and revolving loan            $1,700,000                  $1,829,689                    $  3,529,689
  Accounts payable                              21,261,752  $ 7,802,149      2,260,109    $ (3,171,657)     28,152,353
  Accrued liabilities                           12,791,577    2,069,662        800,927                      15,662,166
  Accrued compensation                           3,894,803      286,156        435,132                       4,616,091
  Advance mold payments from customers                       10,101,849        980,246                      11,082,095
  Income taxes payable                           1,631,437        8,327                                      1,639,764
  Note payable to affiliates                                                   350,000        (262,500)         87,500
  Current maturities of long-term debt             880,902                      98,438                         979,340
                                              ------------------------------------------------------------------------
Total current liabilities                       42,160,471   20,268,143      6,754,541      (3,434,157)     65,748,998

Long-term debt due after one year              122,256,261   15,413,454                    (15,408,824)    122,260,891
Deferred income taxes                            1,489,700    1,709,000        313,800                       3,512,500
Minority interests                                                                             279,341         279,341
Stockholders' equity:

  Common stock                                          60    5,856,307          1,000      (5,857,307)             60
  Additional paid-in capital                        94,072                     126,032        (126,032)         94,072
  Retained earnings                             20,290,768   (2,009,910)       630,894       1,441,199      20,352,951
  Currency translation adjustments                                                             (62,183)        (62,183)
                                              ------------------------------------------------------------------------
Total stockholders' equity                      20,384,900    3,846,397        757,926      (4,604,323)     20,384,900
                                              ------------------------------------------------------------------------
Total liabilities and stockholders' equity    $186,291,332  $41,236,994     $7,826,267    $(23,167,963)   $212,186,630
                                              ========================================================================
</TABLE>


                                     F-30


<PAGE>   54
                            LDM Technologies, Inc.

            Notes to Consolidated Financial Statements (Continued)


14.  SUPPLEMENTAL GUARANTOR INFORMATION (CONTINUED)

              CONSOLIDATING BALANCE SHEET AT SEPTEMBER 29, 1996



<TABLE>
<CAPTION>
                                                                    UNCONSOLIDATED                                               
                                                    ----------------------------------------------                               
                                                           LDM                                                                   
                                                       TECHNOLOGIES,       LDM        NON-GUARANTOR  CONSOLIDATING               
                                                           INC.           CANADA      SUBSIDIARIES      ENTRIES     CONSOLIDATED 
                                                    ---------------------------------------------------------------------------- 
<S>                                                 <C>                 <C>           <C>            <C>            <C>          
ASSETS                                                                                                                           
Current assets:                                                                                                                  
  Cash                                                  $     9,000     $    16,679    $ 2,096,183                  $  2,121,862 
  Accounts receivable                                    25,469,229       9,405,208      1,912,005   $ (1,305,042)    35,481,400 
  Note receivable affiliates                              3,908,824                                    (3,908,824)               
  Inventories                                             7,056,362       3,017,494      1,759,346                    11,833,202 
  Mold costs                                              4,284,317         398,630      2,446,027                     7,128,974 
  Prepaid expenses                                          165,040         218,380         71,007                       454,427 
  Refundable income taxes                                   364,725                                                      364,725 
  Deferred income taxes                                     623,500                        205,000                       828,500 
                                                    ---------------------------------------------------------------------------- 
Total current assets                                     41,880,997      13,056,391      8,489,568     (5,213,866)    58,213,090 
Cash and equivalents restricted to use                      658,018                                                      658,018 
Net property, plant and equipment, at cost               40,440,309      16,040,296      2,475,351                    58,955,956 
Investment in subsidiaries                                  520,185                                      (520,185)               
Debt issue costs                                            399,240                                                      399,240 
Other                                                       148,273         165,283        585,336                       898,892 
                                                    ---------------------------------------------------------------------------- 
                                                        $84,047,022     $29,261,970    $11,550,255   $ (5,734,051)  $119,125,196 
                                                    ============================================================================ 
                                                                                                                                 
LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                             
Current liabilities:                                                                                                             
  Lines of credit and revolving loan                                                   $ 1,800,976                  $  1,800,976 
  Lines of credit and loans in default                  $15,500,000     $ 3,634,290                                   19,134,290 
  Accounts payable                                       18,151,697      11,896,488      2,091,252   $ (1,305,042)    30,834,395 
  Demand note payable to shareholders                        87,500                                                       87,500 
  Accrued liabilities                                     4,604,242         844,726      2,148,918                     7,597,886 
  Accrued compensation                                    4,201,751                                                    4,201,751 
  Advance mold payments                                                      44,752      3,616,294                     3,661,046 
  Income taxes payable                                    2,451,124           8,443                                    2,459,567 
  Note payable to affiliates                                              3,908,824                    (3,908,824)               
  Current maturities of long-term debt                    1,080,000           4,333        236,250                     1,320,583 
  Long-term debt in default                              17,781,111       9,640,649                                   27,421,760 
                                                    ---------------------------------------------------------------------------- 
Total current liabilities                                63,857,425      29,982,505      9,893,690     (5,213,866)    98,519,754 
Long-term debt due after one year                         1,920,000           2,407         98,438                     2,020,845 
Deferred income taxes                                       526,000                        315,000                       841,000 
Minority interests                                          421,532                                                      421,532 
Stockholders' equity:                                                                                                            
  Common stock                                                   60       1,350,000          1,000     (1,351,000)            60 
  Additional paid-in capital                                 94,072                        132,532       (132,532)        94,072 
  Retained earnings                                      17,290,116      (2,010,759)     1,109,595        901,164     17,290,116 
  Currency translation adjustments                          (62,183)        (62,183)                       62,183        (62,183)
                                                    ---------------------------------------------------------------------------- 
Total stockholders' equity                               17,322,065        (722,942)     1,243,127       (520,185)    17,322,065 
                                                    ---------------------------------------------------------------------------- 
Total liabilities and stockholders' equity              $84,047,022     $29,261,970    $11,550,255   $ (5,734,051)  $119,125,196 
                                                    ============================================================================ 
</TABLE>


                                     F-31
<PAGE>   55
                            LDM Technologies, Inc.

            Notes to Consolidated Financial Statements (Continued)

14.  SUPPLEMENTAL GUARANTOR INFORMATION (CONTINUED)

                     CONSOLIDATING STATEMENT OF OPERATIONS

                     FOR THE YEAR ENDED SEPTEMBER 28, 1997



<TABLE>
<CAPTION>

                                                            UNCONSOLIDATED
                                              -----------------------------------------
                                                   LDM
                                              TECHNOLOGIES,      LDM      NON-GUARANTOR  CONSOLIDATING
                                                  INC.         CANADA     SUBSIDIARIES      ENTRIES     CONSOLIDATED
                                              ----------------------------------------------------------------------
<S>                                           <C>            <C>          <C>            <C>            <C>
Net sales:
  Product sales                                $204,901,483  $38,426,722    $19,207,041   $(1,432,817)  $261,102,429
  Mold sales                                     20,843,496    7,035,064      4,038,772                   31,917,332
                                               ---------------------------------------------------------------------
                                                225,744,979   45,461,786     23,245,813    (1,432,817)   293,019,761
Cost of sales:
  Product cost of sales                         156,476,604   36,650,926     18,837,224    (1,432,817)   210,531,937
  Mold cost of sales                             20,425,268    6,485,171      3,487,149                   30,397,588
                                               ---------------------------------------------------------------------
                                                176,901,872   43,136,097     22,324,373    (1,432,817)   240,929,525
                                               ---------------------------------------------------------------------
Gross margin                                     48,843,107    2,325,689        921,440                   52,090,236
Selling, general and administrative expenses     32,395,947    1,572,751      1,780,757      (188,273)    35,561,182
                                               ---------------------------------------------------------------------
Operating profit (loss)                          16,447,160      752,938       (859,317)      188,273     16,529,054

Other expenses (income):
  Equity in net loss of subsidiaries                722,319                                  (722,319)             -
  Interest                                       10,498,863    1,567,463        249,716    (1,239,877)    11,076,165
  Other, net                                       (914,035)     (31,975)       (38,366)    1,428,150        443,774
                                               ---------------------------------------------------------------------
                                                 10,307,147    1,535,488        211,350      (534,046)    11,519,939
                                               ---------------------------------------------------------------------
Income (loss) from continuing operations
  before income taxes and minority interest       6,140,013     (782,550)    (1,070,667)      722,319      5,009,115
Provision for income taxes                        3,281,554     (845,583)      (347,500)                   2,088,471
                                               ---------------------------------------------------------------------
Income (loss) from continuing operations
  before minority interest                        2,858,459       63,033       (723,167)      722,319      2,920,644
Minority interest loss                              142,191                                                  142,191
                                               ---------------------------------------------------------------------
Net income (loss)                              $  3,000,650  $    63,033    $  (723,167)   $  722,319   $  3,062,835
                                               =====================================================================
</TABLE>

                                     F-32



<PAGE>   56
                            LDM Technologies, Inc.

            Notes to Consolidated Financial Statements (Continued)

14.  SUPPLEMENTAL GUARANTOR INFORMATION (CONTINUED)

                            CONSOLIDATING STATEMENT OF OPERATIONS

                            FOR THE YEAR ENDED SEPTEMBER 29, 1996



<TABLE>
<CAPTION>

                                                                          UNCONSOLIDATED                                      
                                                        -------------------------------------------
                                                             LDM                                                                 
                                                        TECHNOLOGIES,      LDM       NON-GUARANTOR   CONSOLIDATING               
                                                            INC.          CANADA      SUBSIDIARIES      ENTRIES     CONSOLIDATED 
                                                        -------------------------------------------------------------------------
<S>                                                     <C>            <C>           <C>             <C>            <C>          
Net sales:                                                                                                                       
  Product sales                                          $142,228,576  $ 31,036,717     $21,535,462   $(2,330,095)   $192,470,660
  Mold sales                                               18,832,061     5,933,579         522,594                    25,288,234
                                                        -------------------------------------------------------------------------
                                                          161,060,637    36,970,296      22,058,056    (2,330,095)    217,758,894
Cost of sales:                                                                                                                   
  Product cost of sales                                   110,645,509    31,795,935      19,982,352    (2,330,095)    160,093,701
  Mold cost of sales                                       16,980,752     5,342,609         479,293                    22,802,654
                                                        -------------------------------------------------------------------------
                                                          127,626,261    37,138,544      20,461,645    (2,330,095)    182,896,355
                                                        -------------------------------------------------------------------------
Gross margin                                               33,434,376      (168,248)      1,596,411                    34,862,539
Selling, general and administrative expenses               23,722,181     1,276,714       1,419,558                    26,418,453
                                                        -------------------------------------------------------------------------
Operating profit (loss)                                     9,712,195    (1,444,962)        176,853                     8,444,086

Other expenses (income):                                                                                                         
  Equity in net loss of subsidiaries                        2,530,671                                  (2,530,671)               
  Interest                                                  1,833,929     1,218,107         227,868   $(5,734,051)      3,279,904
  Other, net                                                 (938,218)      531,026         463,300                        56,108
                                                        -------------------------------------------------------------------------
                                                            3,426,382     1,749,133         691,168    (2,530,671)      3,336,012
                                                        -------------------------------------------------------------------------
Income (loss) from continuing operations                                                                                         
  before income taxes, minority interest and                                                                                     
  extraordinary item                                        6,285,813    (3,194,095)       (514,315)    2,530,671       5,108,074
Provision for income taxes                                  4,437,974      (226,229)       (198,000)                    4,013,745
                                                        -------------------------------------------------------------------------
Income (loss) from continuing operations                                                                                         
  before minority interest and extraordinary                                                                                     
  item                                                      1,847,839    (2,967,866)       (316,315)    2,530,671       1,094,329
Minority interest loss                                         79,078                                                      79,078
                                                        -------------------------------------------------------------------------
Income from continuing operations before                                                                                         
  extraordinary item                                        1,926,917    (2,967,866)       (316,315)    2,530,671       1,173,407
Loss from discontinued operations, net of                                                                                        
  income taxes and minority interest                          (57,610)                                                    (57,610)
                                                        -------------------------------------------------------------------------
Income (loss) before extraordinary item                     1,869,307    (2,967,866)       (316,315)    2,530,671       1,115,797
Extraordinary item, no income tax effect                                    753,510                                       753,510
                                                        -------------------------------------------------------------------------
Net income (loss)                                        $  1,869,307   $(2,214,356)      $(316,315)   $2,530,671    $  1,869,307
                                                        =========================================================================
</TABLE>



                                     F-33
<PAGE>   57
                             LDM Technologies, Inc.

             Notes To Consolidated Financial Statements (Continued)


14.  SUPPLEMENTAL GUARANTOR INFORMATION (CONTINUED)

                     CONSOLIDATING STATEMENT OF OPERATIONS

                     FOR THE YEAR ENDED SEPTEMBER 24, 1995



<TABLE>
                                                               UNCONSOLIDATED
                                               ---------------------------------------------
                                                     LDM
                                                 TECHNOLOGIES,      LDM                     CONSOLIDATING
                                                     INC.         CANADA         COMO          ENTRIES     CONSOLIDATED
                                               ------------------------------------------------------------------------
<S>                                           <C>            <C>            <C>            <C>            <C>
Net sales:                                    
  Product sales                                $149,942,710    $33,777,902    $30,725,375   $  (156,866)   $214,289,121
  Mold sales                                      4,650,187        932,051      1,119,986                     6,702,224
                                               ------------------------------------------------------------------------
                                                154,592,897     34,709,953     31,845,361      (156,866)    220,991,345
Cost of sales:                                 
  Product cost of sales                         119,669,153     29,884,687     26,660,582      (156,866)    176,057,556
  Mold cost of sales                              4,523,639        816,776      1,009,854                     6,350,269
                                               ------------------------------------------------------------------------
                                                124,192,792     30,701,463     27,670,436      (156,866)    182,407,825
                                               ------------------------------------------------------------------------
Gross margin                                     30,400,105      4,008,490      4,174,925                    38,583,520
Selling, general and administrative expenses     20,146,099      1,708,145      1,660,686                    23,514,930
                                               ------------------------------------------------------------------------
Operating profit                                 10,254,006      2,300,345      2,514,239                    15,068,590

Other expenses (income):                       
  Equity in net income of subsidiaries           (1,093,454)                                  1,093,454
  Interest                                        1,781,754      1,085,554        310,518                     3,177,826
  Other, net                                     (1,206,305)       937,576        622,042                       353,313
                                               ------------------------------------------------------------------------
                                                   (518,005)     2,023,130        932,560     1,093,454       3,531,139
                                               ------------------------------------------------------------------------
Income from continuing operations before       
  income taxes, and minority interest            10,772,011        277,215      1,581,679    (1,093,454)     11,537,451
Provision for income taxes                        4,292,765        111,952        653,488                     5,058,205
                                               ------------------------------------------------------------------------
Income from continuing operations before       
  minority interest                               6,479,246        165,263        928,191    (1,093,454)      6,479,246
Minority interest income                           (231,735)                                                   (231,735)
                                               ------------------------------------------------------------------------
Income from continuing operations                 6,247,511        165,263        928,191    (1,093,454)      6,247,511
Income from discontinued operations                  86,546                                                      86,546
                                               ------------------------------------------------------------------------
Net income                                     $  6,334,057    $   165,263    $   928,191   $(1,093,454)     $6,334,057
                                               ========================================================================
</TABLE>                                      



                                     F-34

<PAGE>   58
                             LDM Technologies, Inc.

             Notes To Consolidated Financial Statements (Continued)


14.  SUPPLEMENTAL GUARANTOR INFORMATION (CONTINUED)

                     CONSOLIDATING STATEMENT OF CASH FLOWS

                      FOR THE YEAR ENDED SEPTEMBER 28,1997



<TABLE>
<CAPTION>
                                                               UNCONSOLIDATED
                                               --------------------------------------------                 
                                                    LDM
                                               TECHNOLOGIES,       LDM       NON-GUARANTOR   CONSOLIDATING
                                                   INC.          CANADA      SUBSIDIARIES       ENTRIES    CONSOLIDATED
                                               ------------------------------------------------------------------------ 
<S>                                            <C>               <C>         <C>              <C>           <C>
OPERATING ACTIVITIES
Net income (loss)                               $   3,000,650    $    63,033     $(723,167)     $722,319    $  3,062,835
Adjustments to reconcile net income
  (loss) to net cash provided by operating
  activities:
     Equity in subsidiaries losses                    722,319                                   (722,319)
     Depreciation and amortization                  9,054,516      2,140,766       760,036                    11,955,318
     (Gain) loss on sale of property and
       equipment                                     (151,253)                      (4,292)                     (155,545)
     Deferred income taxes                           (264,500)      (866,000)        3,500                    (1,127,000)
     Other                                            203,048        250,101                                     453,149
     Changes in assets and liabilities, net of
       the effect of the 1997 acquisitions
          Accounts and notes receivable            (8,222,482)     2,631,937       132,278                    (5,458,267)
          Inventory and mold costs                  2,164,494     (7,027,546)      (91,247)                   (4,954,299)
          Prepaid expenses                         (1,572,758)        89,922       (10,550)                   (1,493,386)
          Other assets                                 64,987        349,897                                     414,884
          Accounts payable and accrued 
             liabilities                            2,319,638      4,488,594        82,527       466,011       7,356,770
          Income taxes payable                       (692,871)                     (25,444)                     (718,315)
                                                ------------------------------------------------------------------------
Net cash provided by operating
  activities                                        6,625,788      2,120,704       123,641       466,011       9,336,144
INVESTING ACTIVITIES
Purchase of Molmec (net of $2,704,958 cash
  received in acquisition)                        (53,197,708)                                               (53,197,708)
Additions to property, plant and equipment        (10,521,216)    (2,174,169)      (80,218)                  (12,775,603)
Purchase of Kendallville                           (7,158,703)                                                (7,158,703)
Proceeds from disposal of property, and
  equipment                                         1,768,667                        7,000                     1,775,667
Cash and cash equivalents restricted for
  construction of new corporate facility              658,018                                                    658,018
Disbursements to affiliates                       (12,587,352)                                12,587,352
Payments from affiliates                            1,553,363                                 (1,553,363)
Equity investment in  affiliate                    (4,500,000)     4,500,000
Other                                                (484,412)                                                  (484,412)
                                                ------------------------------------------------------------------------
Net cash (used for) provided by investing 
activities                                        (84,469,343)     2,325,831       (73,218)   11,033,989     (71,182,741)
FINANCING ACTIVITIES
Proceeds from issuance of long term debt          103,961,497     11,500,000                 (11,500,000)    103,961,497
Payments on long-term debt                        (12,315,342)    (9,647,389)     (236,250)                  (22,198,981)
Net proceeds from Line of Credit/Revolver         (13,800,000)    (3,634,290)       28,713                   (17,405,577)
                                                ------------------------------------------------------------------------
Net cash provided (used) by financing
  activities                                       77,846,155     (1,781,679)     (207,537) $(11,500,000)     64,356,939
                                                ------------------------------------------------------------------------
Net increase (decrease) in cash                         2,600      2,664,856      (157,114)                    2,510,342
Cash at beginning of year                               9,000      1,933,188       179,674                     2,121,862
                                                ------------------------------------------------------------------------
Cash at end of year                             $      11,600    $ 4,598,044     $  22,560                  $  4,632,204
                                                =========================================================================
</TABLE>



                                     F-35

<PAGE>   59
                             LDM Technologies, Inc.

             Notes To Consolidated Financial Statements (Continued)


14.  SUPPLEMENTAL GUARANTOR INFORMATION (CONTINUED)

                     CONSOLIDATING STATEMENT OF CASH FLOWS

                      FOR THE YEAR ENDED SEPTEMBER 29,1996



<TABLE>
<CAPTION>

                                                                   UNCONSOLIDATED
                                                  ----------------------------------------------------
                                                        LDM
                                                   TECHNOLOGIES,      ARROW              NON-GUARANTOR  CONSOLIDATING
                                                        INC.         CANADA              SUBSIDIARIES      ENTRIES     CONSOLIDATED
                                                  ---------------------------------------------------------------------------------
<S>                                               <C>              <C>                      <C>            <C>           <C>
OPERATING ACTIVITIES
Net income (loss)                                  $1,869,307      $(2,214,356)             $(316,315)     $2,530,671   $1,869,307
Adjustments to reconcile net income (loss)
 to net cash provided by operating activities:
   Equity in subsidiaries losses                    2,530,671                                              (2,530,671)
   Depreciation and amortization                    5,371,129        2,019,437                614,952                    8,005,518
   Extraordinary gain on retirement of debt          (753,510)                                                            (753,510)
   (Gain) loss on sale of property and
     equipment                                        105,703                                  (2,850)                     102,853
   Deferred income taxes                              521,000         (250,019)               112,000                      382,981
   Other                                             (479,675)         (25,531)                                           (505,206)
   Changes in assets and liabilities, net of
    the effect of the distribution of IMCA:
      Accounts and notes receivable                (3,475,267)      (5,717,553)             1,813,638                   (7,379,182)
      Refundable income taxes                                                                (364,725)                    (364,725)
      Inventory and mold costs                      1,968,402         (698,478)            (2,244,454)                    (974,530)
      Prepaid expenses                                (25,153)         (40,738)               (12,570)                     (78,461)
      Other assets                                   (221,238)         228,235                                               6,997
      Accounts payable and accrued liabilities      3,582,795        6,266,630              2,397,607                   12,247,032
      Income taxes payable                            353,075             (163)                                            352,912
                                                 ----------------------------------------------------------------------------------
Net cash provided (used) by operating              
 activities                                        11,347,239         (432,536)             1,997,283                   12,911,986 
INVESTING ACTIVITIES
Additions to property, plant and equipment        (17,383,272)      (2,502,058)              (401,048)                 (20,286,378)
Proceeds from disposal of property, and
  equipment                                           269,310                                  15,000                      284,310
Cash and cash equivalents restricted for
  construction of new corporate facility            6,685,534                                                            6,685,534
Other                                               1,228,892                                  17,997                    1,246,889
                                                  ---------------------------------------------------------------------------------
Net cash used for investing activities             (9,199,536)      (2,502,058)              (368,051)                 (12,069,645)
FINANCING ACTIVITIES
Redemption of stockholder's interest,
 including cash owned by IMCA of $212,968          (4,712,968)                                                          (4,712,968)
Proceeds from issuance of long term debt           18,804,916        1,188,681                                          19,993,597
Borrowings on line of credit:
 Proceeds                                          12,099,999        4,387,482              1,815,540                   18,303,021
 Repayments                                       (13,800,000)      (2,679,830)              (990,415)                 (17,470,245)
Payments on notes payable and long-term debt      (15,734,104)                               (400,312)                 (16,134,416)
Other                                                 156,183                                   6,500                      162,683
                                                 ----------------------------------------------------------------------------------
Net cash provided (used) by financing              
 activities                                        (3,185,974)       2,896,333                431,313                      141,672
                                                 ----------------------------------------------------------------------------------
Net increase (decrease) in cash                    (1,038,271)         (38,261)             2,060,545                      984,013
Cash at beginning of year                           1,047,271           54,940                 35,638                    1,137,849
                                                 ----------------------------------------------------------------------------------
Cash at end of year                                    $9,000          $16,679             $2,096,183                   $2,121,862
                                                 ==================================================================================
</TABLE>




                                     F-36
<PAGE>   60
                             LDM Technologies, Inc.

             Notes to Consolidated Financial Statements (Continued)



14.  SUPPLEMENTAL GUARANTOR INFORMATION (CONTINUED)

                     CONSOLIDATING STATEMENT OF CASH FLOWS

                     FOR THE YEAR ENDED SEPTEMBER 24, 1995



<TABLE>
<CAPTION>


                                                    UNCONSOLIDATED
                                 ------------------------------------------------------
                                          LDM
                                     TECHNOLOGIES,      LDM                    DISCONTINUED  CONSOLIDATING
                                         INC.          CANADA        COMO       OPERATIONS      ENTRIES     CONSOLIDATED
                                 ---------------------------------------------------------------------------------------
<S>                                <C>              <C>             <C>          <C>         <C>            <C>
OPERATING ACTIVITIES
Net income                           $  6,247,511   $   165,263   $   928,191    $  86,546   $(1,093,454)  $  6,334,057
Adjustments to reconcile net
  income to net cash provided by
  operating activities:
    Equity in subsidiaries earnings    (1,093,454)                                             1,093,454
    Depreciation and amortization       4,583,521     1,423,101       671,775       99,384                    6,777,781
    Gain on sale of property and
     equipment                            (20,686)                    (18,632)                                  (39,318)
    Deferred income taxes                (516,211)                    (96,000)                                 (612,211)
    Other                                 526,540                                                               526,540
    Changes in assets and
     liabilities:
     Accounts and notes receivable     (1,257,726)   (1,287,494)      213,997      414,933                   (1,916,290)
     Inventory and mold costs            (863,449)   (1,276,853)      887,138       (5,831)                  (1,258,995)
     Prepaid expenses                      60,338       (47,902)       46,380        1,045                       59,861
     Other assets                                                    (224,050)                                 (224,050)
     Accounts payable and accrued
        liabilities                     2,538,443     3,432,094      (378,700)    (338,342)                   5,253,495
     Income taxes payable                (102,272)       64,394                    (75,074)                    (112,952)
                                     ------------------------------------------------------------------------------------   
Net cash provided by operating
  activities                           10,102,555     2,472,603     2,030,099      182,661                   14,787,918

INVESTING ACTIVITIES
Additions to property, plant
  and equipment                       (12,248,949)   (2,219,873)     (387,365)    (293,785)                 (15,149,972)
Proceeds from disposal of
  property and equipment                   80,000                      20,600                                   100,600
Cash and cash equivalents
  restricted for construction of
  new corporate facility               (7,343,552)                                                           (7,343,552)
Other                                    (605,460)     (617,319)                                             (1,222,779)
                                     ------------------------------------------------------------------------------------
Net cash used for investing
  activities                          (20,117,961)   (2,837,192)     (366,765)    (293,785)                 (23,615,703)

FINANCING ACTIVITIES
Proceeds from issuance of long
  term debt                             9,000,000                                                             9,000,000
Borrowings on line of credit:
  Proceeds                             18,270,000     1,932,151       697,923                                20,900,074
  Repayments                          (14,630,000)     (296,406)   (2,141,831)                              (17,068,237)
Payments on notes payable and
  long-term debt                       (1,764,650)   (1,315,102)     (450,000)                               (3,529,752)
Other                                    (312,315)                                                             (312,315)
                                     ------------------------------------------------------------------------------------
Net cash provided (used) by
  financing activities                 10,563,035       320,643    (1,893,908)                               (8,989,770)
                                     ------------------------------------------------------------------------------------
Net increase (decrease) in cash           547,629       (43,946)     (230,574)    (111,124)                     161,985
Cash at beginning of year                 263,300        98,886       266,212      347,466                      975,864
                                     ------------------------------------------------------------------------------------
Cash at end of year                  $    810,929   $    54,940       $35,638    $ 236,342                 $  1,137,849
                                     ====================================================================================   
</TABLE>



                                      F-37
<PAGE>   61


                                   SIGNATURES

         Pursuant to the requirements of Section 13 or 15 (d) of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned, thereunto duly authorized on the 10th day of
December 1997.

                                           LDM TECHNOLOGIES, INC.


                                   By:     /s/ Richard J. Nash
                                           -----------------------
                                           Richard J. Nash
                                           President and Chief Executive Officer
                                           (Principal Executive Officer)


                                   By:     /s/ Gary E. Borushko
                                           --------------------
                                           Gary E. Borushko
                                           (Chief Financial Officer)


                                   By:     /s/ Joseph E. Blake
                                           -------------------
                                           Joseph E. Blake
                                           (Principal Accounting Officer)


         Pursuant to the requirements of the Securities Exchange Act of 1934,
this report has been signed below by the following persons on behalf of the 
Registrant and in the capacities indicated on December 10th, 1997.

    Signature                             Title
    ---------                             -----

/s/ Joe Balous                           Director
-------------------
Joe Balous

/s/ Richard J. Nash                      Director
-------------------
Richard J. Nash





<PAGE>   62
                              INDEX TO EXHIBITS

        EXHIBIT NO.                                        DESCRIPTION
        ------- ---                                        -----------

           3.1          Articles of Incorporation of LDM Technologies, Inc.
                        (the "Company"), as amended [3.1]*

           3.2          By-laws of the Company [3.5]*

           4.1          Indenture dated as of January 15, 1997 by and among the
                        Company, LDM Holdings, LDM Partnership, LDM Canada and
                        IBJ Schroder Bank & Trust Company, as Trustee [4.1]*

           4.2          Form of 10 3/4% Senior Subordinated Note Due 2007,
                        Series B [4.2]*

           4.3          Form of Guarantee [4.3]*

           10.1(a)      Loan and Security Agreement dated as of January 22,
                        1997 ("Loan Agreement") by and between the Company, as
                        Borrower, and BankAmerica Business Credit, Inc. 
                        ("BankAmerica"), as Agent for the Lenders [10.2]*

          10.1(b)       First Amendment to Loan Agreement dated May 1, 1997.

          10.1(c)       Amendment No. 3 and Affirmation of Guaranties to Loan
                        Agreement dated as of July 14, 1997.

          10.1(d)       Amendment No. 3 and Affirmation of Guaranties to Loan
                        Agreement dated as of September 30, 1997.

          10.1(e)       Amendment No. 4 and Affirmation of Guaranties to Loan
                        Agreement dated as of November 25, 1997.

          10.2          Intellectual Property Security Agreement dated as of
                        January 22, 1997 made by the Company in favor of 
                        BankAmerica, as Agent for Lenders [10.4]*

          10.3          Stock Purchase Agreement among the Company and the
                        various stockholders of Kenco Plastics, Inc., a 
                        Michigan corporation, and Kenco Plastics, Inc., a 
                        Kentucky corporation, and Narens Design & Engineering 
                        Co., a  Michigan corporation, dated September 30, 1997 
                        [1].**

          12            Statement of Ratio of Earnings to Fixed Charges

          21            Subsidiaries and Affiliates of the Company

          27            Financial Data Schedule


                The Exhibits marked with one asterisk were filed as
                Exhibits to the Registration Statement of the Company on Form
                S-4 (No. 333-21819) and the Exhibit marked with two asterisks
                was filed as an Exhibit to the Form 8-K of the Company
                dated September 30, 1997, and are incorporated herein by
                reference, the Exhibit numbers in brackets being those in such
                Registration Statement on Form 8-K Report.