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Echlin buys Long Manufacturing.

BRANFORD, Conn.--(BUSINESS WIRE)--Sept. 5, 1996--Echlin Inc. (NYSE:ECH) has purchased all the outstanding shares of Long Manufacturing, Ltd., in a cash transaction valued at $160 million. Echlin Chairman and Chief Executive Officer Frederick J. Mancheski announced the acquisition.

Long, headquartered in Oakville, Ontario, Canada, provides motor vehicle heat exchange products to original equipment manufacturers and aftermarket customers primarily in North America. In eleven operations in Canada, the United States and Mexico, Long designs, produces and distributes transmission, engine and power steering oil coolers, and air conditioning evaporators. Annual sales total $165 million. The company is profitable and will add immediately to Echlin's earnings per share.

"The addition of Long is a natural complement to Echlin's fluid systems group," Mancheski explained. "Their products expand our existing offering, and strengthen our market niche as a supplier of valued-added systems. We plan to build the business further by supporting the development of related heat-exchange products, and by embellishing the worldwide distribution of Long's offering."

Echlin is a global manufacturer of a broad range of motor vehicle parts, with $3.1 billion in yearly sales and worldwide employment of 27,000.

CONTACT: Paul Ryder

Director, Investor Relations

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Publication:Business Wire
Date:Sep 5, 1996
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