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STANDARD PRODUCTS ANNOUNCES COMPLETION OF ACQUISITION OF FRENCH AUTOMOTIVE SEALING MANUFACTURER

 CLEVELAND, Jan. 26 /PRNewswire/ -- The Standard Products Co. (NYSE: SPD) announced today that it has completed the acquisition of Standard Products Industriel (SPI), a French automotive sealing manufacturer, including its French subsidiaries and foreign affiliates, for $123 million in cash.
 SPI operates four plants in France and one in the United States. A sixth is under construction in the U.S. Based on the most recent 12 month periods, combined annualized sales of the two companies is approximately $800 million.
 Standard Products said the acquisition will strengthen its global position in automotive sealing systems significantly. SPI's European customer base supplements the present customer base of Standard Products' operations in the United Kingdom and offers additional growth opportunities in North America. SPI has a number of new automotive launches planned. Among them are programs for Citroen, Eurostar, Fiat, Renault, Saab and Volkswagen in addition to its ongoing European business and its production for Chrysler in the U.S.
 The Standard Products Co. is based in Cleveland, Ohio. Unts in North America and three in the United Kingdom. Its NISCO joint venture operates two automotive sealing plants in the United States. The Company's Holm Industries subsidiary produces plastic and magnetic door seals for home and industrial appliances at five U.S. locations, and its Oliver Rubber subsidiary is a producer of tread rubber for truck tire retreading, with nine manufacturing facilities in North America and the U.K.
 -0- 1/26/93
 /CONTACT: Aubrey E. Arndt of The Standard Products Co., 216-281-8300; or William L. Dupuy of Edward Howard & Co., 216-781-2400, for The Standard Products Co./
 (SPD)


CO: The Standard Products Co. ST: Ohio IN: AUT SU: TNM

KK -- CL010 -- 6342 01/26/93 11:32 EST
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Publication:PR Newswire
Date:Jan 26, 1993
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