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DETROIT (Reuters) -- Dura Automotive Systems, which emerged from bankruptcy earlier in 2008, said late yesterday it was restructuring into four business units after winning some $1 billion in new contracts since late June.

The restructuring was the first shake-up at the suburban Detroit-based supplier since the appointment of Tim Leuliette as CEO in July.

Dura said the four units would have global operations.

Units producing auto glass and cable systems will be headquartered in Michigan. Two other units producing shifter system and safety-related components will be based in Germany.

Dura estimated nearly $2 billion in annual product sales to automakers including Volkswagen, Toyota and General Motors.

Dura said it expected to complete the last of its 16 planned plant closings by the end of the year. During its Chapter 11 restructuring, the company reduced its debt by 85 percent, or $1.2 billion, it added.

Dura emerged from bankruptcy in June. It said it expected to begin filing delayed quarterly reports with securities regulators.

Dura ranks No. 88 on the Automotive News list of the top 100 global suppliers with worldwide original-equipment automotive parts sales of $1.89 billion during its 2007 fiscal year.