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VARITY CORPORATION SELLS DAYTON PARTS UNIT

 BUFFALO, N.Y., Jan. 5 /PRNewswire/ -- Varity Corporation (NYSE: VAT) announced today the sale of its Dayton Parts, Inc. unit to JPE, Inc., a private investment group in Ann Arbor, Mich., for approximately $20 million.
 Varity said that the transaction was part of a restructuring program announced early in 1992 that included the sale of non-core assets to reduce debt. Dayton Parts, a business unit of Varity's Kelsey-Hayes automotive components group, had sales last year of about $50 million. Dayton Parts manufactures and distributes heavy-duty and medium-duty truck and trailer aftermarket parts.
 Varity Corporation (NYSE: VAT) had sales in 1991 of $3.2 billion and is one of the 150 largest U.S. industrial firms. Its businesses include Kelsey-Hayes automotive components and anti-lock braking systems, Massey Ferguson farm equipment and Perkins diesel engines.
 -0- 1/5/93
 /CONTACT: Jerry Hostetter of Varity Corporation, 716-888-8073/
 (VAT)


CO: Varity Corporation ST: New York IN: AUT SU:

KK -- CL005 -- 1553 01/05/93 08:44 EST
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Publication:PR Newswire
Date:Jan 5, 1993
Words:163
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