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INTERMET ANNOUNCES INTENT TO ACQUIRE PBM

 INTERMET ANNOUNCES INTENT TO ACQUIRE PBM
 ATLANTA, Jan. 10 /PRNewswire/ -- Intermet Corporation (NASDAQ: INMT)


today announced that it has signed a letter of intent to acquire PBM Industries, Inc. of Mount Clemens, Mich. The proposed transaction is subject to negotiation of a definitive agreement, completion of due diligence activities and certain other conditions. Other terms of the transaction were not disclosed.
 PBM machines manifolds, brackets and other castings for automotive customers. PBM also owns an 80 percent equity interest in Batten Design and Engineering Services Inc., an automotive engine design firm. PBM had consolidated 1990 sales of approximately $48 million.
 Atlanta-based Intermet Corporation and its subsidiaries manufacture precision iron parts for automotive and industrial customers primarily in North America and Europe.
 -0- 1/10/92
 /CONTACT: John D. Ernst, chief financial officer of Intermet, 404-431-6000, or Desmond Towey of Desmond Towey & Associates, 212-888-7600, or Ken Paneral, 708-729-8521, both for Intermet/
 (INMT) CO: Intermet Corporation; PBM Industries Inc. ST: Georgia, Michigan IN: AUT SU: TNM


CK-OS -- NY013 -- 8546 01/10/92 10:07 EST
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Publication:PR Newswire
Date:Jan 10, 1992
Words:173
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