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BF GOODRICH COMPLETES ACQUISITION OF CLEVELAND PNEUMATIC

 AKRON, Ohio, June 10 /PRNewswire/ -- The BFGoodrich Company (NYSE: GR) and Abex Inc. (NYSE: ABE) said today that they have completed the previously announced acquisition and sale of Cleveland Pneumatic Company, a leader in the manufacture and overhaul of aircraft landing gear. The purchase price was approximately $200 million, subject to closing balance sheet adjustment.
 Cleveland Pneumatic operates manufacturing plants in Cleveland and Tullahoma, Tenn. The company also operates a major landing gear overhaul facility in Miami. Total employment is about 950.
 Cleveland Pneumatic will be operated as a business unit of BFGoodrich Aerospace.
 BFGoodrich Aerospace is one of the world's leading providers of aircraft systems, components and services. BFGoodrich also manufactures a wide range of specialty chemicals. Sales from BFG's aircraft systems, components and services and specialty chemicals businesses during 1992 were $1.6 billion. BFGoodrich employs about 10,700.
 -0- 6/10/93
 /CONTACT: Rob Jewell (media), 216-374-2999; or Tom King (investor), 216-374-2556; both of The BF Goodrich Company/
 (GR ABE)


CO: BFGoodrich; Abex Inc.; Cleveland Pneumatic ST: Ohio IN: ARO SU: TNM

KL -- CL012 -- 0656 06/10/93 13:01 EST
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Publication:PR Newswire
Date:Jun 10, 1993
Words:184
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