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Tube Products Corporation Completes Acquisition of AP Parts International

22 December 1997

Tube Products Corporation Completes Acquisition of AP Parts International

    VANDALIA, Ohio, Dec. 22 -- Tube Products Corporation, a
portfolio company of Questor Partners Fund, L.P., announced today that it had
completed the acquisition of AP Parts International, Inc.  Terms were not
disclosed.
    Terry Bernander, president and COO of Tube Products, said that the two
companies are being consolidated to create the world's third largest
integrated supplier of automotive exhaust systems, with plants in the U.S. and
Europe and 1997 sales exceeding $600 million.
    AP Parts, headquartered in Toledo, designs and manufactures a complete
line of exhaust products, including pipes, mufflers, manifolds and catalytic
converter housings.  Tube Products, based in Vandalia, designs and produces a
variety of exhaust system components, focusing on converter downpipe
assemblies.
    Combined, the two companies have 10 manufacturing plants, approximately
3,000 employees and a customer mix that includes General Motors, Ford, Volvo,
Mercedes Benz and Volkswagen.
    Questor Management Company, Southfield, Mich., manages Questor Partners
Fund, which was established in 1995 to acquire underperforming and "special
situation" companies, including the non-core divisions or subsidiaries of
Fortune 1000 corporations.
    In addition to Tube Products, the fund's portfolio includes Ryder TRS,
Inc., Denver, Colo.; Channel Master, Inc., Smithfield, N.C.; Ockham Holdings,
PLC, London, England, and Schwinn Cycling and Fitness Inc., Boulder, Colo.

SOURCE  Tube Products Corporation