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GM SELLS INDUSTRIAL MOTOR UNIT

 DAYTON, Ohio, Dec. 23 /PRNewswire/ -- Delco Chassis Division of the General Motors Corporation (NYSE: GM) announced today that it has signed a sales agreement with the Dayton-Phoenix Group to transfer ownership of its Machine Control Systems (MCS) electric motor business effective today. The Dayton-Phoenix Group is a group of local investors who had been managers of the operations. The agreement signed today provides for the sale of the Kuntz Road manufacturing facilities, as well as engineering facilities and business assets. The agreement also signals the retention of 120 jobs in the Dayton area.
 Delco Chassis Division General Manager George G. Johnston stated, "This agreement signals the completion of many months of intense negotiations which achieved three goals which we have sought throughout this effort -- to care for the MCS employes, to provide continuing employment opportunities in the Dayton area, and to concentrate GM resources on our core automotive business. I am pleased to announce that we have accomplished all three objectives."
 MCS manufactures electric motors for industrial and rail locomotive applications. The Kuntz Road facility currently employs 10 salaried and 110 hourly workers. These employes will join the Dayton-Phoenix Group in the operations of the new business.
 A related agreement between the Dayton-Phoenix Group and the Lincoln Electric Company provides for the Cleveland-based company to acquire the assets related to the industrial motor portion of the business. Subsequently, the Kuntz Road facility and the locomotive business assets will continue to be managed by the Dayton-Phoenix Group.
 -0- 12/23/92
 /CONTACT: Charles W. Kronbach of Delco Chassis Division GMC, 513-455-7483; Gale A. Kooken of Dayton-Phoenix Group, 513-455-9055; or Richard S. Sabo of Lincoln Electric Co., 216-383-2126/
 (GM)


CO: Delco Chassis Division; Dayton-Phoenix Group;
 General Motors Corporation ST: Ohio IN: AUT SU: TNM


SB -- DE022 -- 9677 12/23/92 16:04 EST
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Publication:PR Newswire
Date:Dec 23, 1992
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