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NATIONAL-STANDARD TO EXPLORE DIVESTITURE OF WOVEN, FILTER, FIBER DIVISION

 NATIONAL-STANDARD TO EXPLORE DIVESTITURE
 OF WOVEN, FILTER, FIBER DIVISION
 NILES, Mich., Feb. 12 /PRNewswire/ -- National-Standard Company (NYSE: NSD) announced today its decision to explore the divestiture of its Woven, Filter, Fiber Division (WFF). WFF operates a wire cloth weaving facility in Corbin, Ky., and a nickel fiber (Fibrex(R)) and air bag filter production facility in Mishawaka, Ind. Products produced in both facilities serve the air bag and rechargeable battery markets.
 "We are discussing the sale of WFF with several strategic buyers who have indicated an interest in the growing markets in which this division participates," said M.B. Savitske, president and chief executive officer. "National-Standard has made significant investments in technology and equipment to serve the WFF customers. Sales in the division have grown from $10.6 million in 1987 to an estimated $27 million in 1992. Future growth in materials for air bag filtration and electrodes for rechargeable consumer and electric vehicle batteries may make it difficult for the company to provide the level of service and investment necessary to maintain its current market position," he continued. "We believe that the long-term interests of the company, its employees, stockholders, and customers are best served by this decision."
 The proceeds from a sale, if it were to occur, would be used to substantially reduce the company's debt level and strengthen the core wire business.
 Savitske said that the company was seeking the assistance of an investment banking organization to assist in identifying other prospective purchasers and additional market information.
 Founded in 1907, National-Standard is a Niles-based firm with annual sales of approximately $230 million. In 12 operating facilities throughout the world, the company manufactures and distributes a broad range of wire and wire-related products.
 -0- 2/12/92
 /CONTACT: W.D. Grafer of National-Standard, 616-683-8100, Ext. 4312/
 (NSD) CO: National-Standard Company ST: Michigan IN: SU:


DH -- DE008 -- 9162 02/12/92 10:46 EST
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Publication:PR Newswire
Date:Feb 12, 1992
Words:315
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