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WALBRO CORPORATION ANNOUNCES FORMATION OF SOUTH AMERICAN JOINT VENTURE WITH MAGNETI MARELLI S.p.A.

a joint venture in Sao Paulo, Brazil, to manufacture and market fuel system components to automotive customers in South America.
 This joint venture, to be known as Marwal do Brazil, Ltda., will be the second between Walbro and Magneti Marelli. The first, Marwal Systems S.A., formed in 1991, is located in France.
 Magneti Marelli will own 51 percent of the new joint venture, with Walbro holding a 49-percent interest. Sales of Marwal do Brazil are expected to reach approximately $40 million (U.S.) annually within the next five years.
 In announcing the joint venture agreement, Walbro Chief Executive Officer L.E. Althaver said, "We are very pleased to announce this new joint venture with Magneti Marelli. It will open up an important new market for our products, and represents a further implementation of our global growth strategy."
 Magneti Marelli Chief Executive Officer Alessandro Barberis said, "Our relationship with Walbro in Europe since 1991 has been a very positive experience. This new South American venture is a logical consequence of that relationship, since Magneti Marelli is active in Brazil under the Weber trademark and in Argentina and Mexico with its Jaeger product lines."
 Magneti Marelli is an international manufacturing group that designs and manufactures high technology components and systems for the automotive market. Magneti Marelli's activities focus on electronics and systems such as fuel injection, infocenters, climatization, lighting and various electromechanical components.
 Walbro Corporation is a designer and manufacturer of automotive and small-engine fuel system products. Walbro Corporation is headquartered in Cass City, and has subsidiaries and joint ventures throughout the world, including the United States, Mexico, Japan, Singapore, Korea and France. Walbro Corporation common stock is traded on the NASDAQ National Market System under the symbol WALB.
 -0- 2/9/93
 /CONTACT: L.E. Althaver, Dan Hittler or Gary Vollmar of Walbro Corporation, 517-872-2131/
 (WALB)


CO: Walbro Corporation; Magneti Marelli S.p.A.; Marwal do Brazil, Ltda. ST: Michigan IN: AUT SU: JVN

JG -- DE016 -- 4604 02/09/93 11:09 EST
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Publication:PR Newswire
Date:Feb 9, 1993
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