Hastings Manufacturing and Intraco Sign Agreement to Market Piston Rings in Latin America, Middle East

HASTINGS, Mich., June 17 -- Continuing its drive to increase market share in the global engine-products industry, Hastings Manufacturing Co. (Amex: HMF - News) today announced it has signed an agreement with Troy, Mich.-based Intraco Corp. to market Hastings® piston rings and related products in Central America, South America and the Middle East.

The Hastings, Mich.-based piston ring manufacturer and engine-components specialist said the agreement calls for privately held Intraco to serve as the exclusive marketing arm of Hastings piston rings, valve-spring inserts, valve seals and related accessories in the Latin American and the Middle Eastern markets. Intraco is a 31-year old export firm that distributes vehicle, building and industrial products worldwide. The firm serves and supplies the global automotive aftermarket with "performance-proven products" manufactured by industry leaders, including ASC Industries, Delphi, DynaGear, Hastings Manufacturing, Visteon and others.

"This alliance represents a substantial opportunity to maximize the Hastings brand name and increase sales in three key international markets," said Mark Johnson, chairman and chief executive officer of Hastings Manufacturing. "We have worked closely with Intraco over the years in the Middle East and, more recently, in our joint venture to develop, market and sell Casite® branded vehicle chemicals around the globe. We are pleased to expand the relationship with Intraco, which has a solid track record of marketing automotive aftermarket products internationally."

The pact with Intraco also marks the latest in a series of marketing and distribution alliances the Company has created to increase its market share in the engine-products niche. In March 2001, Hastings announced an agreement to become the exclusive marketer and distributor of Zollner®-brand pistons in the United States and Mexico. In November 2001, Hastings reached an agreement to become the exclusive U.S. and Mexican marketer and distributor of ACL® engine components -- including bearings, gaskets and import pistons.

"We have continued to outpace many of our peers in the automotive replacement parts market by leveraging our manufacturing, sales and marketing excellence," Johnson said. "Our marketing and distribution agreements, in particular, are allowing us to sell a wider range of products and reach customers more efficiently. That, in turn, has enabled us to increase our value as an engine-parts resource for professional engine rebuilders, parts warehouses and specialty retailers worldwide."

"We are pleased to form this alliance, which enhances our long-standing relationship with Hastings Manufacturing," said Nicola Antakli, founder and chairman of Intraco. "We look forward to utilizing our established international sales network and our extensive knowledge of the Middle Eastern, Central and South American aftermarket in order to generate increased sales of Hastings piston rings and related products."

About Intraco:

Intraco Corporation (http://www.IntracoUSA.com ) is a leading export management company, developing international sales for major North American manufacturers of automotive and heavy-duty aftermarket components, automotive glass, architectural glass, building products, automobiles and trucks. The firm serves and supplies the global automotive aftermarket with "performance-proven products" manufactured by industry leaders including ASC Industries, Delphi, DynaGear, Hastings Manufacturing, Visteon and others.

About Hastings:

Hastings Manufacturing Co. (www.hastingsmfg.com ) serves the automotive parts market with a complete line of internal engine components including piston rings sold under the HASTINGS® brand name; pistons sold under the Zollner® brand; and gaskets, import pistons, engine bearings and a variety of other engine components sold under the ACL® brand. Hastings also markets engine additives sold under the CASITE(TM) brand through The Casite Company, a joint venture with Intraco Corporation, that markets both directly and through independent representatives. Canadian distribution of all products is handled through a wholly owned subsidiary, Hastings, Inc. located in Barrie, Ontario. During 1999, Hastings began to distribute and administer products for other U.S.-based suppliers in the Canadian market. These products complement the current piston ring offerings as to both distribution channels and customer base.