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VOLVO PENTA AND OMC JOINT VENTURE AGREEMENT FINALIZED

 VOLVO PENTA AND OMC JOINT VENTURE AGREEMENT FINALIZED
 NEW YORK, Sept. 3 /PRNewswire/ -- AB Volvo Penta, Volvo Penta North America, Inc., and Outboard Marine Corporation (OMC) (NYSE: OM) today said they had concluded a definitive agreement to form a joint venture company that would produce gasoline stern drive and gasoline inboard marine power systems. The joint venture still must be approved by various governmental authorities before it can be implemented.
 The agreement calls for the joint venture to be 60 percent owned by Volvo Penta North America, Inc., and 40 percent owned by OMC. The jointly produced marine power systems would be marketed by Volvo Penta to independent boat builders and servicing dealers, worldwide, and would be used in boats manufactured by OMC companies. Units marketed by Volvo Penta would carry Volvo Penta's brand names, while units installed in OMC boats would carry OMC's brand names.
 Current plans call for the joint venture's new product line to be available for the 1994 model year, which begins in the summer of 1993. The product line initially would combine Volvo Penta and OMC technology. Until the joint venture is implemented, both Volvo Penta and OMC will continue to produce, market and support their existing product lines separately.
 -0- 9/3/92
 /CONTACT: Ronald C. Kuykendall of Outboard Marine, 708-689-5642, or David H. Moody of Volvo Penta North America, 804-436-5119/
 (OM) CO: Outboard Marine Corp.; Volvo Penta North America, Inc. ST: Illinois, New York IN: LEI SU: JVN


SH -- NY073 -- 6475 09/03/92 13:50 EDT
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Publication:PR Newswire
Date:Sep 3, 1992
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