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Newcor Announces the Signing of a Definitive Agreement To Purchase Turn-Matic, Inc.

20 January 1998

Newcor Announces the Signing of a Definitive Agreement To Purchase Turn-Matic, Inc.

    BLOOMFIELD HILLS, Mich., Jan. 20 -- W. John Weinhardt,
president and chief executive officer of Newcor, Inc. ,
announced today that Newcor signed a definitive agreement on January 16, 1998
to purchase the stock of Turn-Matic, Inc., a Michigan corporation, located in
Clinton Township, Michigan.  Assuming the satisfaction of certain conditions,
it is anticipated that the closing will occur during the first quarter of
1998.  Newcor is finalizing financing alternatives including subordinated
debt, increased bank borrowings, or a combination of both to complete this
transaction and the previously announced (December 10, 1997) Deco Group
pending acquisition and (December 23, 1997) Machine Tool & Gear, Inc.,
completed acquisition.
    Turn-Matic manufactures high volume precision machined engine components
including oil filter adapters, main bearing caps and intake and exhaust
manifolds for the automotive industry.  Turn-Matic's product lines and
customer base complement Newcor's Precision Machined Product segment.
    Newcor, headquartered in Bloomfield Hills, Michigan, designs and
manufactures precision machined and molded rubber and plastic products as well
as custom machines and manufacturing systems.  Newcor is listed on the Nasdaq
Stock Market under the symbol NEWC.

SOURCE  Newcor, Inc.