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MAYTAG EXPECTS IMPROVED SALES, OPERATING INCOME, IN 1992

 MAYTAG EXPECTS IMPROVED SALES, OPERATING INCOME, IN 1992
 NEWTON, Iowa, April 28 /PRNewswire/ -- Noting Maytag Corporation's (NYSE: MYG) strong performance in the first quarter of this year, President and Chief Executive Officer Leonard A. Hadley told Maytag shareowners that he expects 1992 sales will be modestly ahead of 1991 and operating income will improve.
 Both Hadley and Maytag Chairman Daniel J. Krumm addressed over 500 shareowners attending the firm's annual meeting in Newton today. As announced earlier, effective with this meeting Krumm, 65, turned the CEO responsibilities over to Hadley, 57, who had been president and chief operating officer. Krumm, 65, had been Maytag's CEO since 1974, and he will remain as chairman for an undetermined period of time.
 In recognition of Krumm's significant contributions to Maytag, and to Iowa, Hadley announced that a 65-seat tiered classroom in the University of Iowa's new College of Business Administration building will be named for Krumm as a gift from the corporation.
 Discussing the first quarter of this year, Hadley said that Maytag's primary strength came from the corporation's North American Appliance Group, which includes major home appliances and floor care products. He explained: "Our major appliance companies posted market share increases for all core products as our unit sales to dealers rose 5.2 percent above the first quarter of 1991."
 Krumm discussed the significant restructuring of Maytag's Hoover division in Europe, which has greatly reduced operating losses. He said capital improvements to enhance manufacturing efficiencies in the United Kingdom were continuing and he explained that new models of washers and dishwashers late this year should boost Hoover Europe's competitive position.
 Hadley recapped two major capital projects under way in the United States. One is the construction of Maytag Corporation's new $45-million dishwasher manufacturing plant in Jackson, Tenn. He said that pilot runs of newly designed Maytag brand dishwashers have begun and they will be introduced into the marketplace in the third quarter of this year.
 In addition to the Maytag brand, Hadley said, "Eventually we will produce distinctly different dishwashers at the new plant for our Jenn-Air, Magic Chef and Admiral brands and we will discontinue sourcing those units from a competitor."
 Hadley also discussed a $50-million redesign and retooling project at Magic Chef's range plant in Cleveland, Tenn., which is nearing completion. This will result in the introduction of new Magic Chef and Admiral gas and electric ranges in the second and third quarters of this year. In 1993, newly designed Maytag brand ranges will be produced.
 The annual meeting also included a "spotlight" presentation by Brian Girdlestone, president of Hoover North America. Last year was the second-best year in history for Hoover's U.S. floor care business, and Girdlestone presented an overview of Hoover's products and operations.
 During the meeting, Maytag shareowners re-elected four directors, re-elected Ernst & Young as independent auditors for the current year and approved the adoption of a stock option plan for executives and key employees.
 Maytag Corporation, headquartered in Newton, consists of 12 companies with 22 manufacturing operations in seven countries and approximately 23,000 employees. Its appliance brands include Maytag, Magic Chef, Hoover, Jenn-Air, Admiral, Hardwick and Norge. Dixie-Narco is the corporation's vending equipment manufacturer.
 -0- 4/28/92
 /CONTACT: James G. Powell of Maytag, 515-791-8392/
 (MYG) CO: Maytag Corporation ST: Iowa IN: HOU SU:


CK -- NY081 -- 3786 04/28/92 12:13 EDT
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Publication:PR Newswire
Date:Apr 28, 1992
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