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HAYES WHEELS ANNOUNCES EXERCISE OF OVER-ALLOTMENT OPTION

 ROMULUS, Mich., Jan. 8 /PRNewswire/ -- Hayes Wheels International, Inc. (NYSE: HAY) announced today that the U.S. Underwriters of the company's initial public offering have informed the company that they intend to exercise their option to purchase 1,230,000 shares of common stock at $19 per share, pursuant to the terms of the over-allotment option. The estimated net proceeds to the company are approximately $21.8 million. The company stated that the closing is anticipated to occur on Jan. 12, 1993.
 Hayes Wheels is a world leader in the manufacture, design and supply of aluminum and steel wheels to OEMs of passenger cars and light trucks.
 -0- 1/8/93
 /CONTACT: Jerry Hostetter, vice president of investor relations and communications, Varity Corporation, 716-888-8073/
 (HAY)


CO: Hayes Wheels International, Inc. ST: Michigan IN: AUT SU:

KK -- CL013 -- 3010 01/08/93 11:53 EST
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Publication:PR Newswire
Date:Jan 8, 1993
Words:144
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