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HAYES WHEELS INTERNATIONAL SIGNS JOINT VENTURE AGREEMENT WITH CZECH MANUFACTURER

 DETROIT/Ostrava, Czech Republic, March 1 /PRNewswire/ -- Hayes Wheels International has signed an agreement with Nova Hut a.s. Ostrava to form a joint venture to manufacture and market automotive wheel systems in Europe, according to Ron Cucuz, president and chief executive officer of Hayes Wheels. The announcement was made today at the Society of Automotive Engineers (SAE) International Congress & Exposition in Detroit.
 The Hayes Wheels/Nova Hut a.s. Ostrava joint venture company will manufacture fabricated steel and aluminum wheel systems in the Czech Republic for sale in that republic and throughout Europe. The two companies signed a letter of intent to form the joint venture in June 1992.
 Hayes Wheels International is the world leader in the design, engineering and manufacture of steel and aluminum wheels for the automotive market in North America, Europe and Asia. Hayes Wheels is a member of the Kelsey-Hayes Group of Companies.
 Nova Hut a.s. Ostrava is a member of a group of three large steel and rolled product manufacturers and the leading producer of steel wheels for passenger cars, trucks, lorries, buses and commercial vehicles in the Czech Republic.
 -0- 3/1/93
 /CONTACT: Jill Lucius, 313-567-5022, or Tony Petrucci, 313-567-5007, both of Anthony M. Franco, Inc., for Kelsey-Hayes/
 (VAT)


CO: Hayes Wheels International; Nova Hut a.s. Ostrava ST: Michigan IN: AUT SU: JVN

ML -- DE014 -- 1501 03/01/93 14:12 EST
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Publication:PR Newswire
Date:Mar 1, 1993
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