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Quanex Purchases Advanced Metal Forming C.V.

29 October 1997

Quanex Purchases Advanced Metal Forming C.V.

    HOUSTON, Oct. 29 -- Quanex Corporation announced
today that it completed the purchase of the business of Advanced Metal Forming
C.V. (Amefo), a Dutch limited partnership established by Philips PMF B.V. and
Hoogovens Beheermaatschappij Industriele Produkten B.V., for approximately
$30 million.
    Amefo produces high-quality aluminum impact extrusions and precision steel
stampings for the automotive and electronics industries in Europe and North
America.  About 260 employees staff Amefo's modern, 150,000-square-foot
manufacturing facility, which is located near Zwolle in the Netherlands.  With
both ISO-9000 and QS-9000 certifications, Amefo is a major supplier of metal
air bag components to TRW and Autoliv, the automotive industry's largest air
bag manufacturers.
    The European air bag market represents 30 percent of the global total and
has good growth potential as these products gain wider acceptance. Amefo
provides a strategic marketing and manufacturing base in Europe for Piper
Impact, Quanex's U.S.-based impact extrusion business.  Piper Impact
specializes in the production of value-added impact-extruded products,
including aluminum and steel air bag components.
    Quanex is a technological leader in the production of value-added
engineered steel bars, aluminum flat-rolled products, and impact-extruded
aluminum and steel products for transportation, capital equipment, and
residential construction markets.

SOURCE  Quanex Corporation