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IDEX Corporation Considers Strategic Alternatives For Its Strippit and Vibratech Units

19 December 1997

IDEX Corporation Considers Strategic Alternatives For Its Strippit and Vibratech Units

    NORTHBROOK, Ill., Dec. 19 -- IDEX Corporation
today announced it retained BancAmerica Robertson Stephens to consider
strategic alternatives for its Strippit and Vibratech business units.  This is
likely to result in a sale of these businesses, which currently contribute a
total of about $85 million in revenues and $9 million in operating profits to
IDEX's annual results.
    Strippit, located in Akron, New York, is a manufacturer of computer-
controlled turret punch presses, laser cutting machinery, and related punches,
dies and tooling used in metal fabrication processes.  Vibratech, located in
Alden, New York, makes engineered motion damping products used in heavy-duty
diesel and motor sport engines, rail cars, off-road vehicles, and other
applications.
    Donald N. Boyce, IDEX Chairman and President, said, "Both Strippit and
Vibratech are fine businesses that have been consistently profitable and have
strong market positions; however, they differ from our other businesses in
important ways.  Their sales are primarily to end users and OEMs (original
equipment manufacturers), and they serve markets that are more closely
associated with the higher ticket capital goods sectors, so tend to be
somewhat more cyclical than our fluid handling businesses.  In addition, the
businesses are not among those we plan to build on with our acquisition
program.  Freeing the resources allocated to these two businesses should
enable IDEX to further develop positions in its areas of principal focus.  If,
as anticipated, buyers are found for the businesses, they will be sold as
going concerns, protecting the interests of customers, suppliers and employees
to the greatest extent possible.  These businesses will be treated as
discontinued operations in our 1997 financial results."
    IDEX Corporation is a manufacturer of proprietary fluid handling and
industrial products with leading positions in niche markets.  Its engineered
products are sold to a wide range of industries throughout the world.  IDEX
shares are traded on the New York and Chicago Stock Exchanges under the symbol
IEX.
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or to retrieve a specific release, call 800-758-5804, ext. 110769, or
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SOURCE  IDEX Corporation