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Aeroquip and Inoac to Share Exterior Automotive Plastics Technologies

28 July 1997

Aeroquip and Inoac Expand Joint Venture Relationship To Share Technologies in Serving Market for Exterior Automotive Plastics

    MAUMEE, Ohio, July 28 -- Aeroquip Corporation, a
subsidiary of Aeroquip-Vickers, Inc. , and Inoac Corporation,
Nagoya, Japan, have expanded their joint venture relationship to serve the
market for automotive exterior plastic products.
    Aeroquip Inoac Company, a joint-venture company formed by Aeroquip and
Inoac in 1988, has acquired Aeroquip's automotive facilities in Atlanta,
Georgia, and Livingston, Tennessee, manufacturers of bodyside moldings,
decorative bumper strips and roof moldings.
    "Consolidating the Atlanta and Livingston facilities within Aeroquip Inoac
will enable the operations to share technologies, take advantage of common
marketing strategies and create greater efficiencies," said Darryl F. Allen,
Aeroquip-Vickers chairman, president and chief executive officer.  "This
action is consistent with the previously announced Aeroquip-Vickers' strategy
to focus on fluid connectors as our primary automotive business.  We will soon
complete the divestiture of our interior automotive plastics business, and now
our exterior automotive plastics business will be consolidated within our
successful joint venture with Inoac to take advantage of growth opportunities
with a broader range of exterior trim products.
    "Inoac is a forward-thinking company, on the leading edge of product and
technology development.  For the past nine years, we have had an excellent
relationship and shared in growing Aeroquip Inoac from a start-up in 1988 to a
$65-million business today.  We expect the new agreement will strengthen
Aeroquip Inoac and contribute to its continued growth."
    Aeroquip Inoac Company, located in Fremont, Ohio, is the leading U.S.
supplier of blow-molded automotive spoilers and also manufactures exterior
trim components and systems, bodyside moldings and rocker panel claddings for
customers such as Toyota, Ford, Nissan, General Motors, Mazda and Honda.
    Inoac Corporation is a leading Japanese-based producer of rubber, plastic,
polyurethane and composite products for a wide variety of worldwide markets
including automotive and consumer goods.
    Aeroquip-Vickers, Inc. is Aeroquip Corporation and Vickers, Incorporated,
leading worldwide industrial manufacturers and distributors of components and
systems to industrial, automotive and aerospace markets.

SOURCE  Aeroquip-Vickers, Inc.