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Teleflex Acquires United Parts Group N.V., An Automotive Systems and Components Manufacturer

1 December 1997

Teleflex Acquires United Parts Group N.V., An Automotive Systems and Components Manufacturer

    PLYMOUTH MEETING, Pa., Nov. 28 -- Teleflex Incorporated
announced today that it had signed a definitive agreement to
acquire United Parts Group N.V., a leading European supplier of automotive
systems and components, from an investor group which includes Trustor AB,
Trustor Components Holding B.V. and Charterhouse Partners.  The purchase price
is approximately $88 million cash.  The closing is expected to occur before
December 31, 1997.
    Headquartered near Amsterdam in Bussum, The Netherlands, United Parts
Group operates three technology centers and eleven manufacturing plants,
located in Sweden, Germany, France, United Kingdom, The Netherlands, Belgium
and Slovakia.  Annual sales are approximately $230 million (NLG 455 million).
The company has two divisions.  The Driver Control Division is a leading
supplier of proprietary gearshift systems for manufacturers such as Ford,
General Motors, Rover, Volkswagen, Mercedes-Benz, Volvo and BMW.  It also
manufactures pedal boxes and steering columns.  The Truck Systems & Components
Division is a major supplier of fuel-, air-, and hydraulic tanks, and also
makes exhaust systems and other components.  Teleflex said that it is
currently exploring strategic alternatives for the truck business so that the
company can focus attention on integrating the Driver Control Division with
its existing automotive product lines.
    David S. Boyer, president and chief executive officer of Teleflex, said,
"The Driver Control Division is an excellent strategic fit with Teleflex
Automotive Group.  It further expands the market for our automatic and manual
shift cable products and allows us to provide more complete shift control
systems."  Earlier this year, Teleflex acquired Comcorp Technologies, a U.S.
producer of pedal systems and other products which also complement Teleflex's
cable controls.
    Mr. George W. Hofman, president of Teleflex Automotive Group in Troy,
Michigan, said, "This acquisition is an important step to achieving our
objective of becoming a leading supplier to automotive customers around the
world.  United Parts has a strong position in Europe, serving most of the
major automobile manufacturers there.  This opens up significant new
opportunities for Teleflex outside North America."  Mr. Axel P. Assmus,
president of the Driver Controls Division, will continue with the company,
reporting directly to Mr. Hofman.
    Teleflex Automotive, located in Troy, Michigan, is a leading Tier One
supplier of cable controls and systems to automotive manufacturers.  Among its
customers are Ford, General Motors, Chrysler, Toyota, Nissan and Rover.  Its
ten plants are located in Michigan, Ohio, Virginia, Connecticut, Mexico and
the United Kingdom.  In addition to manual and automatic shift controls,
Teleflex also produces accelerator, cruise and park lock controls, and various
light-duty cables.  The company also produces mechanical and electronic
accelerator pedals and adjustable pedal systems.
    Teleflex Incorporated, the parent of Teleflex Automotive, is a
Philadelphia-based diversified industrial manufacturing firm with sales
exceeding $1 billion annually.  In addition to automotive products, Teleflex
also designs, manufactures and distributes a broad range of products and
services to the aerospace, recreational marine, industrial and medical markets
worldwide.  Additional information about Teleflex is available on the
company's web site at http://www.teleflex.com.

SOURCE  Teleflex Incorporated