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GENCORP ACQUIRES RENEER FILMS FROM GOODYEAR

 FAIRLAWN, Ohio, July 19 /PRNewswire/ -- GenCorp Inc. (NYSE: GY) and The Goodyear Tire & Rubber Company (NYSE: GT) announced jointly today that GenCorp has acquired Goodyear's Reneer Films Corporation, located in Auburn, Pa.
 Reneer, which now becomes a business unit of GenCorp's Polymer Products segment, is the premier producer of vinyl woodgrain laminates for furniture and consumer electronics, and clear plastic films. The company employs about 280 people and generated approximately $40 million in sales in 1992.
 "Reneer is an excellent strategic fit with the extensive vinyl film business which GenCorp Polymer Products already operates," said William E. Bachman, president of GenCorp Polymer Products. "We are impressed with Reneer's strong market position and are looking forward to working with Reneer's highly motivated, skilled workforce and valuable customer base."
 The Reneer facility will be included in a new Plastic Films unit of GenCorp Polymer Products, along with GenCorp's Flexible Film Division in Jeannette, Pa., and the company's Rigid Plastics Division in Newcomerstown, Ohio. GenCorp has named P. David Mittiga as president to head this unit. Most recently, Mittiga served as president and chief executive officer of Reneer Films since 1989.
 Terms of the Reneer transaction have not been announced. Goodyear has indicated it will use the proceeds from the sale of Reneer to reduce debt.
 GenCorp is a technology-based company with strong positions in aerospace, automotive and related polymer products.
 -0- 7/19/93
 /CONTACT: Rosemary Younts of GenCorp, 216-869-4494; Richard A. Nelson, investor relations, GenCorp, 216-869-4211; Carol Helderlein of GenCorp Polymer Products, 216-668-7028; or Scott Baughman of Goodyear, 216-796-5346/
 (GY GT)


CO: GenCorp; Goodyear Tire & Rubber; Reneer Films Corp. ST: Ohio, Pennsylvania IN: CHM SU: TNM

BM -- CL019 -- 3155 07/19/93 14:41 EDT
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Publication:PR Newswire
Date:Jul 19, 1993
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