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RUBBERMAID TO ACQUIRE MEXICAN CIPSA BUSINESS

 RUBBERMAID TO ACQUIRE MEXICAN CIPSA BUSINESS
 WOOSTER, Ohio, Dec. 4 /PRNewswire/ -- Rubbermaid Incorporated


(NYSE: RBD) today announced it has reached agreement in principle to acquire the companies which comprise CIPSA, the leading Mexican plastic and rubber housewares manufacturer and marketer, from Grupo IRSA S.A. of Mexico. The acquisition will be a cash transaction with closing expected to be completed early in 1992.
 "Bringing CIPSA into the Rubbermaid family offers us an exciting opportunity," said Walter W. Williams, Rubbermaid chairman of the board and chief executive officer. "It's the plastic housewares leader in the Mexican market with approximately $14 million (U.S.) in annual sales of housewares products and two manufacturing facilities just north of Mexico City."
 According to Charles A. Carroll, president and general manager, Rubbermaid Housewares Products Division, "Rubbermaid has been a close partner with the CIPSA business since 1988 when we entered into a licensing and technology agreement, and it recently became a distributor of Rubbermaid housewares products. With the market-oriented economic reforms taking place in Mexico and the pending North American Free Trade Agreement, CIPSA represents an outstanding position in an attractive, emerging market which ranks 17th among the world eocnomies. It is also indicative of our drive to expand Rubbermaid's presence in the global marketplace."
 Williams continued, "The Mexican market for Rubbermaid products has been growing and this new relationship will accelerate that growth. In addition to housewares products, our Mexican commercial business has benefited from a 1990 distribution agreement with Grupo San Crisobal, a division of Scott Worldwide. Our Specialty Products Division, Office Products Group and The Little Tikes Company also utilize Mexican distributors."
 CIPSA will be integrated into the Housewares Products Division, Wooster.
 -0- 12/4/91
 /CONTACT: Harry C. Chapman of Rubbermaid Incorporated, 216-264-6464, ext. 2971/
 (RBD) CO: Rubbermaid Incorporated ST: Ohio IN: HOU SU: TNM


KK -- CL005 -- 9066 12/04/91 09:44 EST
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Publication:PR Newswire
Date:Dec 4, 1991
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