PRESS RELEASE
Thyssen Announces Cooper and Brass Sales Inc. Acquisition
5 February 1997
Thyssen Inc., N.A. Acquires Copper and Brass Sales, Inc.
DETROIT, Feb. 5 -- Thyssen Inc., N.A. announces the
acquisition of Copper and Brass Sales, Inc., Detroit, Michigan. The
acquisition further expands Thyssen Inc., N.A.'s role as one of the nation's
leading materials distribution and service organizations.
On a consolidated basis, Thyssen Inc., N.A. currently operates over 45
sales and processing facilities in North America. The company's product lines
include a full range of carbon and stainless steels, aluminum sheet and strip,
tool steels and heat treating services and semi-finished plastics.
Additionally, through its affiliates, the company is engaged in laser welding
at TWB Co.; scaffolding services at Safway Steel Products, Inc.; freight and
logistics services at Thyssen Haniel Logistics, Inc. (THL) and other special
projects at the Thyssen Rheinstahl Technik, Co. (TRT) group.
In a joint statement, Dr. Hans-Erich Forster, Member of the Executive
Board of Thyssen AG, Duisburg, Germany, the parent company of Thyssen Inc.
N.A., and Mr. Kenneth J. Graham, President/CEO and Member of the Board of
Thyssen Inc., N.A., recognized the acquisition of Copper and Brass Sales, Inc.
as "an outstanding strategic opportunity to grow Thyssen's materials
distribution and services business together with the most respected and well
known non-ferrous materials company in North America." Continuing, he noted:
"the acquisition of Copper and Brass Sales, Inc. dovetails very well into
Thyssen Inc., N.A.'s current workbench." Viewed in terms of Thyssen's world
wide interests, Dr. Forster stated that "Copper and Brass Sales, Inc. offers
unique synergies and qualifications that make the acquisition an excellent fit
for Thyssen's long-term growth objectives."
Also commenting on the announcement, Mr. William K. Howenstein, Chairman
and CEO of Copper and Brass Sales, Inc., stated that linkage with one of the
world's leading materials trading and distribution concerns significantly
improves the company's growth potential for the future." Referring to the
company's highly acclaimed "Centers of Excellence" concept, he noted that
Copper and Brass Sales, Inc. "remains totally committed to continuing its
process and product, quality and delivery performance." Mr. Howenstein also
stated that the consolidation with Thyssen Inc., N.A. is a very positive step
for Copper and Brass Sales, Inc., our employees, customers and suppliers. The
new availability of tool steel, carbon steel and plastics further enhances our
'one call gets it all' capability."
Copper and Brass Sales, Inc. is a processor and distributor of metals.
From its headquarters in Eastpointe, Michigan, the company operates a network
of 40 locations in eighteen US states and three Canadian provinces. Annual
sales are approximately $500 million.
Thyssen Inc., North America is headquartered in Detroit, Michigan. With
the acquisition of Copper and Brass Sales, Inc., Thyssen Inc., N.A. and its
affiliates will have sales of approximately $2.5 billion annually, operating
from 85 distribution and sales centers located throughout the USA and Canada.
SOURCE Thyssen Inc.
CONTACT: A. Malcolm Gill, Senior Vice President of Thyssen Inc., N.A., phone,
313-567-5630 or fax, 313-567-5678