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Mannesmann Sachs AG Sells its Bicycle Component Division to SRAM Corporation, USA

7 November 1997

Mannesmann Sachs AG Sells its Bicycle Component Division to SRAM Corporation, USA

    DUSSELDORF, Germany, Nov. 7 -- With effect from
November 7, 1997, the bicycle component division of Mannesmann Sachs was sold
to SRAM Corporation, Chicago/USA.  This divestiture is part of the strategic
repositioning of Mannesmann Sachs with focus on the international automotive
component business.  Today, Sachs generates already 85% of its turnover (about
DM 4 billion) with automotive components.  In 1997, the bicycle component
division achieves sales of about DM 250 million, with 1,250 employees.  The
product range comprises mainly internal gears, external division's gears,
handle grips and chains.
    The international positioning and the product range of SRAM complements
perfectly the strengths of Sachs.  Therefore Mannesmann Sachs and SRAM
anticipate to strengthen considerably the international market position.
    Headquartered in Chicago, SRAM Corporation operates manufacturing
facilities for bicycle components (handle grips and external gears) in the
US (Chicago), Mexico, Taiwan, China and Ireland.

SOURCE  Mannesmann Sachs AG