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MANNESMANN COMPLETES ACQUISITION OF RAPISTAN FROM LEAR SIEGLER

MANNESMANN COMPLETES ACQUISITION OF RAPISTAN FROM LEAR SIEGLER
 NEW YORK, Dec. 16 /PRNewswire/ -- Mannesmann Capital Corporation and Lear Siegler Holdings Corp. jointly announced today that Mannesmann has completed its previously announced acquisition of Rapistan Corp. from Lear Siegler Holdings Corp. The terms of the transaction were not disclosed.
 Mannesmann Capital is the U.S. holding company for Mannesmann AG, a German diversified manufacturing company. A Mannesmann subsidiary, Mannesmann Demag Material Handling, is active in the material handling field through its line of storage/retrieval systems, automated guided vehicles, flexible manufacturing systems, monorails, cranes and hoists.
 Founded in 1939, Rapistan is a material handling company headquartered in Grand Rapids, Mich. Rapistan, a world leader in conveyor system technology, employs 1,300 people worldwide and has offices throughout the United States and extensive international operations. The operations of Rapistan will be continued by Mannesmann Demag Material Handling under the name Rapistan Demag Corp. By combining the capabilities of the two companies, Mannesmann expects to become a leader in the North American materials handling business.
 Lear Siegler was acquired in 1987 by an investor group formed by Forstmann\Little & Co.
 -0- 12/16/91
 /CONTACT: Joseph Innamorati of Mannesmann, 212-826-0040, or George Sard and Tom Sanford of Adams & Rinehart, 212-557-0100, for Mannesmann/ CO: Mannesmann Capital Corporation; Rapistan Corp. ST: New York, Michigan IN: SU: TNM FC -- NY088 -- 2700 12/16/91 17:19 EST
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Publication:PR Newswire
Date:Dec 16, 1991
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