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KELSEY-HAYES AND HAYES WHEELS TO INVEST OVER $110 MILLION IN NEW PLANTS, EQUIPMENT AND R&D

 DETROIT, March 1 /PRNewswire/ -- Kelsey-Hayes Group and Hayes Wheels will invest over $110 million in research and development, new plants and equipment during 1993, according to John Utley, chairman of both companies.
 The announces was made at a press briefing at the Society of Automotive Engineers (SAE) International Congress & Exposition in Detroit today.
 Utley indicated that the bulk of the investment is earmarked for new manufacturing facilities in North America and Europe for production of anti=lock brake systems (ABS) and aluminum wheels.
 The company's Worldwide ABS and Controls Group is moving ahead with plans to build a 101,183-square-foot ABS plant in Western Europe. "Our growing involvement with European automakers as a supplier of lightweight, low-cost ABS makes building a plant in Europe an absolute necessity," Utley said.
 Hayes Wheels International, a new company formed in 1992 from the public common stock offering of Kelsey-Hayes Group's wheels businesses, is establishing a 185,000-square-foot facility in the southeastern United States. The plant will produce styled, lightweight aluminum wheels for passenger cars and light trucks.
 "Worldwide demand for aluminum wheels continues to grow, and no letup is in sight," Utley said. "To meet current OEM demands, we have three aluminum wheel plants in the United States, and additional operations in Europe, South America, Mexico and Japan. The new Georgia facility will help us meet future needs."
 Hayes Wheels International is a world leader in the design, engineering and manufacture of steel and aluminum wheels for the automotive market. Hayes Wheels is a member of the Kelsey-Hayes Group of Companies.
 Kelsey-Hayes is a major supplier of conventional brakes, anti-lock brake systems and electrical control devices to the automotive industry worldwide. Kelsey-Hayes is a business of Varity Corporation (NYSE: VAT).
 -0- 3/1/93
 /CONTACT: Jill Lucius, 313-567-5022, or Tony Petrucci, 313-567-5007, both of Anthony M. Franco, Inc., for the Kelsey-Hayes Group of Companies/
 (VAT)


CO: Kelsey Hayes Group of Companies ST: Michigan IN: AUT SU:

DH -- DE002 -- 1499 03/01/93 14:11 EST
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Date:Mar 1, 1993
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