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RUBBERMAID AND RICHELL ANNOUNCE JOINT VENTURE AGREEMENT

 WOOSTER, Ohio, Jan. 14 /PRNewswire/ -- Rubbermaid Incorporated (NYSE: RBD) and Richell Corporation -- one of Japan's leading housewares manufacturers -- announced today their intention to form a joint venture, which will sell, market and develop housewares, leisure, and specialty products for the Japanese market.
 Under the terms of the agreement, the joint venture will become operational in April 1994. At that time, Rubbermaid will hold a 40% equity interest and will have the opportunity to increase its holding to a majority position by the end of 1994.
 Wolfgang R. Schmitt, chairman and chief executive officer of Rubbermaid Incorporated said, "This joint venture with Richell is another step in Rubbermaid's drive to globalize its operations. Japan represents an attractive market opportunity that offers growth possibilities for our brand name products and expands our presence in the developing markets of the Pacific Rim."
 Richell was established in Toyama, Japan, in 1956 and the joint venture will be headquartered in that city under the new agreement. Richell's Home and Leisure Products net sales volume for fiscal 1994 (ending March 1994) will approach U.S. $60 million.
 Rubbermaid Incorporated, which is headquartered in Wooster, Ohio, is a multinational company that manufactures and markets plastic and rubber products such as housewares; recreational, commercial, and institutional products; office furniture and accessories; indoor and outdoor casual furniture, and Little Tikes traditional preschool and juvenile products. The company has been named among the nation's top ten most admired coporations for the past eight years in Fortune magazine's annual survey.
 -0- 1/14/94
 /CONTACT: Richard D. Gates, senior vice president, Business Development and Investor Relations, of Rubbermaid Incorporated, 216-264-6464, ext. 2477/
 (RBD)


CO: Rubbermaid Incorporated; Richell Corporation ST: Ohio IN: HOU SU: JVN

BM -- CL004 -- 2052 01/14/94 09:02 EST
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Publication:PR Newswire
Date:Jan 14, 1994
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