Amcast Announces Expansion of European Wheel Capacity.

DAYTON, Ohio--(BUSINESS WIRE)--Sept. 22, 1998--Amcast Industrial Corporation (NYSE:AIZ) announced today an expansion of its aluminum wheel capacity in Europe.

Amcast, through its subsidiary, Speedline S.p.A., is a leading producer of light-alloy wheels serving many of the major European vehicle producers, including Daimler-Benz, Volkswagen, Audi, BMW, Rover, Fiat, and PSA, among others, as well as truck makers Mercedes-Freightliner, MAN, IVECO, DAF, and Renault/Mack. Aluminum wheel demand in Europe is rising as vehicle production increases and aluminum wheel penetration continues upward. Market expectations are that aluminum passenger car wheel usage will increase from about 25 percent now to around 40 percent in the next five years.

A $10 million expansion of the Bolzano, Italy, plant will nearly double its capacity of car and truck wheels to over one million units. Completion is scheduled in 1999. The Bolzano plant is part of the company's Speedline operations.

John H. Shuey, Amcast chairman and chief executive officer, commenting on the investment, said, "Acceptance of the company's products in Europe has created the need to enlarge capacity. We are committed to serving our customers and the time to expand is upon us. This action will help Amcast keep pace with customer demand and allow us to continue to grow in this expanding market."

Amcast Industrial Corporation is a leading manufacturer of technology-intensive metal products. Its two business segments are brand name Flow Control Products marketed through national distribution channels, and Engineered Components for original equipment manufacturers. The company serves the automotive, construction, and industrial sectors of the economy.

This release includes forward-looking statements which are subject to change based on various factors and uncertainties that may cause actual results to differ significantly from expectations. These factors include, among others: general economic conditions less favorable than expected, fluctuating demand and competitive pressures in the domestic and European automotive industry, effectiveness of production improvement plans, inherent uncertainties in connection with international operations and foreign currency fluctuations, and labor relations at the company and its customers.