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WEST POINT PEPPERELL AND JUPITER INDUSTRIES REACH AGREEMENT IN PRINCIPAL

WEST POINT PEPPERELL AND JUPITER INDUSTRIES REACH AGREEMENT IN PRINCIPAL
 CHICAGO, June 18 /PRNewswire/ -- West Point-Pepperell, Inc. (NYSE: WPM) and Jupiter Industries, Inc. (AMEX: JPI) announced today that they have reached an agreement in principle for Jupiter to acquire the Custom Fabrics Division of West Point-Pepperell. Terms were not disclosed pending a final agreement.
 The Custom Fabrics Division, a manufacturer of industrial textiles, operates various plants in Alabama, Georgia and Iowa.
 Jupiter, a publicly held venture capital company, is 37 percent owned by New York-based industrial textile maker Johnston Industries, Inc. (NYSE: JII)
 West Point-Pepperell, Inc. is the nation's leading domestic producer in the bed linen market and is one of the top two domestic producers in the bath towel market. Products are marketed under such leading brand names as Martex(R), Utica(R), Lady Pepperell(R), Tastemaker(R) and Vellux(R) and licensed properties as Collier Campbell(R), Louis Nichole(R), Eileen West(R), Ralph Lauren(R), Gloria Vanderbilt(R) and Liberty of London(R).
 -0- 6/18/92
 /CONTACT: Pamela L. Webber of Farley Industries, Inc., 312-993-1815; or Elizabeth S. Davies of Jupiter Industries, 301-656-0626/
 (WPM JPI JII) CO: West Point-Pepperell, Inc.; Jupiter Industries, Inc.; Johnson
 Industries, Inc. ST: Illinois, New York IN: TEX SU: TNM


JB-AW -- FL007 -- 1692 06/18/92 17:25 EDT
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Publication:PR Newswire
Date:Jun 18, 1992
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