Amcast to build automotive components plant at Wapakoneta, Ohio.

DAYTON, Ohio--(BUSINESS WIRE)--May 3, 1995--Amcast Industrial Corporation (NYSE:AIZ) announced today that it will build a 200,000-square-foot plant at Wapakoneta, Ohio. The $25 million facility, slated for startup in mid-1996, will produce aluminum automotive suspension components.

John H. Shuey, president and chief executive officer, said that the decision to locate in Ohio was influenced by recent improvements in the state's operating environment. ``Governor Voinovich's programs to address such matters as workers' compensation and taxation realignment in order to make Ohio more business friendly appear to be working,'' he said. ``We were attracted to Wapakoneta because of its proximity to other Amcast plants, Detroit, and support services in larger Ohio and Indiana cities, as well as certain economic advantages. We were also extremely impressed by the cooperation and `can do' attitude of the Wapakoneta local leadership group.''

Commenting on the decision, Governor George Voinovich said, ``I am very pleased that Amcast has chosen Wapakoneta for its new plant. Ohio aggressively pursued the project and offered competitive incentives. This strategy, in combination with Ohio's skilled labor force, excellent infrastructure, and positive business climate helped entice Amcast to build their new plant here.''

Wapakoneta Mayor Donald Wittwer is equally pleased. ``Amcast can be assured that this city administration and city council will work hand-in-hand with the company during its construction and growing period. We want to create a harmonious relationship that will be mutually beneficial and profitable to Amcast as well as the community,'' he said.

The new plant, named Suspension Components Division, continues Amcast's emphasis on fully machined and assembled products.

``The auto makers are increasingly designing more aluminum into new car platforms, and we are excited about the potential for our company,'' said Shuey. ``They are also seeking suppliers with full-service capabilities, and we are dedicated to meeting their needs. The plant's first two products-General Motors suspension components-will be ready for assembly by the auto maker. One of these components is already in production at a pilot installation at our Gas City, Indiana, plant.

``In phase one of the program, capacity will support $25 million sales, and the workforce will total about 150. Within five years, we expect to install additional equipment to increase capacity to $75 million. That will double the number of employees.''

Amcast has invested heavily in new aluminum casting technology and capacity to support the auto makers' efforts to reduce weight by converting heavier parts of iron and steel to aluminum. Aluminum conversions were previously centered around the engine, wheel, brake, and climate control systems. But now, conversion programs are involving suspension and driveline components, a new market expected to surpass $1 billion by the year 2000.

``Our investments are paying off,'' Shuey said. ``We now offer a broader range of casting processes than our competition, and are positioned to be an important player in this new wave of underbody aluminum conversions.''

The Wapakoneta facility is Amcast's twelfth operating unit. It is the company's fourth new aluminum plant since 1992. Two of the new plants are in operation at Richmond and Gas City, Indiana; and a third one is under construction at Franklin, Indiana. It will start production this summer. Amcast also opened a new Automotive Center in Detroit last year and moved its marketing and technical resources closer to automotive engineers and buyers.

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 four major sectors of the economy: construction, automotive, industrial, and aviation/defense.

CONTACT: Amcast Industrial Corporation, Dayton

Media Contact: Phyllis Naylor, 513/291-7011

Investor Contact: Michael Higgins, 513/291-7015