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INTERMET STATES THERE IS NO AGREEMENT REGARDING PURCHASE OF FOUNDRY FROM GENERAL MOTORS

 INTERMET STATES THERE IS NO AGREEMENT
 REGARDING PURCHASE OF FOUNDRY FROM GENERAL MOTORS
 ATLANTA, Aug. 27 /PRNewswire/ -- Intermet Corporation (NASDAQ: INMT) today reported it has had preliminary discussions with General Motors Corp. (NYSE: GM) regarding the possible purchase of the General Motors Powertrain foundry in Tilton, Ill. At this time, however, the parties have only expressed an interest in continuing discussions and have not entered into any letter of intent or agreement.
 John D. Ernst, chief financial officer of the company, stated, "Under normal circumstances, we only make an announcement after an agreement in principle has been reached. We have decided to release this statement now, however, since rumors which require clarification have been circulating about these preliminary talks."
 Atlanta-based Intermet Corporation and its subsidiaries provide precision iron parts to automotive and industrial customers primarily in North America and Europe.
 -0- 8/27/92
 /CONTACT: John D. Ernst, chief financial officer of Intermet, 404-431-6000; or Desmond Towey or Bernadette McLaughlin of Desmond Towey & Associates, 212-888-7600, or Ken Paneral, 708-729-8521, all for Intermet/
 (INMT GM) CO: Intermet Corporation; General Motors Corp. ST: Georgia, Michigan, Illinois IN: AUT SU: TNM


TM-GK -- NY005 -- 3789 08/27/92 08:59 EDT
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Publication:PR Newswire
Date:Aug 27, 1992
Words:197
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