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ARVIN ANNOUNCES JOINT VENTURE WITH EUROPEAN RIDE CONTROL MANUFACTURER

 COLUMBUS, Ind., July 19 /PRNewswire/ -- Arvin Industries, Inc. (NYSE: ARV) today reported that it has agreed to purchase 49.9 percent of the European ride control manufacturer Way Assauto, an operating division of IAO Industrie Riunite S.p.A., located in Torino, Italy.
 Way Assauto currently manufactures shock absorbers, MacPherson struts, rubber/metal parts, and stampings. The company's principal facility is in Asti, Italy (near Turin) and employs approximately 800 people. About 80 percent of Way Assauto's business activity is in ride control products.
 Arvin President and Chief Executive Officer Byron O. Pond said, "This is an important strategic move for Arvin. It strengthens Arvin's position as a major European OE/OES ride control supplier, and complements our existing European ride control business." Pond went on to say Arvin was very pleased to be associated with Italy's largest shock absorber producer.
 Process and product technology for Way Assauto will be provided under license from Kayaba Industries, Japan's leading shock absorber producer. This technology will be made available through AP Amortiguadores of Pamplona, Spain, a company that is a joint venture between Arvin (75 percent) and Kayaba (25 percent).
 Pond stated that the infusion of new technology, combined with Arvin's training in Total Quality Production (ATQPS), will provide European car manufacturers with the excellent service and quality they've come to expect and value from Arvin. He went on to say that Way Assauto's market strength combined with the new technology will make Way Assauto a highly competitive OEM shock absorber producer.
 Arvin Industries, Inc., is an international manufacturing company supplying automotive parts and related products and services in more than 100 countries throughout the world.
 -0- 7/19/93
 /CONTACT: John Brown of Arvin Industries, Inc., 812-379-3389/
 (ARV)


CO: Arvin Industries, Inc.; Way Assauto ST: Indiana IN: AUT SU: JVN

BM -- CL017 -- 3061 07/19/93 12:42 EDT
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Publication:PR Newswire
Date:Jul 19, 1993
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