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T&N ACQUIRES GOETZE

 ANN ARBOR, Mich., June 3 /PRNewswire/ -- T&N plc of the United Kingdom, with regional office headquarters in Ann Arbor, announced today that it has concluded the purchase of Goetze AG, a privately owned business based in Germany, with additional plants in France, Turkey and the United States. Goetze AG ("GAG") is a 900 million deutschemark ($550 million) company with worldwide employment of approximately 9,000.
 Five operating plants in the U.S. are owned by GAG's U.S. subsidiary, Goetze Corporation of America ("GCA"), in which Nippon Piston Rings Co., Ltd ("NPR") has a 24.9-percent stake. GCA businesses -- located in Michigan, Wisconsin and Georgia -- employ approximately 1,100 people who produce products which are fully complementary to T&N's existing business and will be quickly integrated into three of T&N's eight major groups, namely:
 -- piston products
 -- engineered metallurgical products, and
 -- automotive sealings.
 Related T&N businesses in the U.S. are located in Lake City, Minn., and South Bend, Ind. (pistons); in Athens, Ala. (gaskets), and in Dayton, Ohio, and Marshall, Ill. (powdered metals). These businesses are significantly enhanced by the addition of Goetze piston rings, liners, valve seats and guides, increased production capabilities for automotive gaskets and new market opportunities in powdered metals.
 In addition to the Goetze brand, other T&N brand names in the U.S. are AE and Clevite, McCord and Payen, Glacier and Vandervell, Ferodo and Flexitallic, Brico and Bentley-Harris, Tempered Spring and Tenmat.
 T&N is a diversified international organization, supplying materials technology and components to the automotive, petrochemical, power generation, aerospace and electrical markets. The Group has more than 200 manufacturing locations in 20 countries throughout the world. Automotive products account for 65 percent of output. In the U.S., approximately 5,000 employees staff 40 facilities which manufacture and distribute various original equipment, aftermarket and industrial products and provide quality technical and engineering services.
 T&N's investment will provide it with a vital expanded presence in the growing Eastern European market and further enhance its strategic intent to grow the U.S. market base, which provided approximately one-fourth of group sales in 1992.
 -0- 6/3/93
 /CONTACT: Jim Michels of Hedge & Co., 313-350-2190, for T&N plc/


CO: T&N plc; Goetze AG ST: Michigan IN: AUT SU: TNM

DH-SM -- DE003 -- 4773 06/03/93 08:40 EDT
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Publication:PR Newswire
Date:Jun 3, 1993
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