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HAGGLUNDS DENISON ACQUIRED BY PRIVATE INVESTORS

 MARYSVILLE, Ohio, June 18 /PRNewswire/ -- Hagglunds Denison Corporation was acquired by a group of private and institutional investors via a stock acquisition on Tuesday, June 15. The new owners intend to keep the company focused exclusively in the hydraulic business. The name of the United States company has been changed to Denison Hydraulics Inc. to reflect this. The name of the new parent company is Denison International Limited.
 The investors are committed to helping the company develop new products, enter new markets and to maintaining the high quality products and services that are Denison Hydraulics' trademark. The stock transaction has provided the company with a stronger balance sheet and increased cash resources which will better enable the company to meet these objectives.
 Robert J. Naples, the new president, said of Denison Hydraulics Inc., "We are excited about the prospectus of the Denison Hydraulics group's future as it becomes a market-driven growing concern."
 The principal shareholders and management of Denison International Limited are Colin Keith, chairman, and Anders Brag and Harry Gittes, who are managing directors.
 -0- 6/18/93
 /CONTACT: Bill Roberts of Cameron Towey Central, 513-469-0202, for Denison International Limited/


CO: Hagglunds Denison Corporation; Denison International Limited ST: Ohio IN: MAC SU: TNM

AR -- CL009 -- 3528 06/18/93 11:27 EDT
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Publication:PR Newswire
Date:Jun 18, 1993
Words:213
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