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INTERMET ACQUIRES PBM INDUSTRIES

 INTERMET ACQUIRES PBM INDUSTRIES
 ATLANTA, April 1 /PRNewswire/ -- Intermet Corporation (NASDAQ: INMT)


announced today that it has acquired PBM Industries, Inc. ("PBM") of Mt. Clemens, Mich. PBM is a supplier of engine components to automotive and light truck markets. PBM also owns an 80 percent equity interest in Batten Design and Engineering Services, Inc. ("Batten"), an automotive engine design firm. PBM had consolidated 1991 sales of approximately $40.9 million.
 PBM performs machining and assembly operations on a wide variety of iron castings for automotive customers, but has particular expertise in engine manifolds and brackets. Batten, which specializes in the design and engineering of engines and related automotive parts, has several contracts with automotive manufacturers and other customers.
 The purchase price of $3.8 million was funded by a cash payment of $0.9 million and a four-year note for $2.9 million. In addition, Intermet made a $1.9 million cash investment into PBM which was used to repay certain outstanding long-term debt.
 George W. Mathews, Jr., chairman and chief executive commented, "PBM and Batten are a good fit with Intermet. Their experience and capabilities enhance our ability to serve our customers by supplementing our extensive casting R&D activities with engine design, engineering, testing and machining capabilities."
 Atlanta-based Intermet Corporation and its subsidiaries manufacture precision iron parts for automotive and industrial customers primarily in North America and Europe.
 -0- 4/1/92
 /CONTACT: John D. Ernst CFO of Intermet Corporation, 404-431-6000; Desmond Towey 212-888-7600, or Ken Paneral, 708-729-8521, both of Desmond Towey & Associates, for Intermet Corporation/
 (INMT) CO: Intermet Corporation; PBM Industries, Inc. ST: Georgia, Michigan IN: AUT SU: TNM


SH-KW -- NY068 -- 3968 04/01/92 15:01 EST
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Date:Apr 1, 1992
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