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GenCorp to Exit Plastic Extrusions Business

30 April 1998

GenCorp to Exit Plastic Extrusions Business

    FAIRLAWN, Ohio, April 29 -- GenCorp announced
today plans to exit the Plastic Extrusions business, which involves closing
facilities in Evansville, Indiana and Ft. Smith, Arkansas.  These businesses
are part of the Company's Vehicle Sealing Unit.   The Company said it made
this decision after evaluating other alternatives, including restructuring of
the business over the past year.
    Both the Evansville and Ft. Smith facilities are involved primarily in the
production of refrigerator gaskets for the appliance industry.  Whirlpool is
the Company's major customer.  In more recent years, the facilities also began
producing plastic extruded automotive sill plates and belt strips for General
Motors.
    "Plastic Extrusions is a very small piece of GenCorp's business portfolio,
and not strategic to our long-term plans for growth," said Chairman and CEO
John Yasinsky.  "Our strategy is to focus on GenCorp's growth platform
businesses that hold leading positions in the markets they serve and exit non-
strategic, value detracting businesses," he said.  GenCorp's growth platforms
include its Specialty Polymers and Decorative & Building Products units and
the Space Surveillance segment of Aerojet.
    The Company has initiated actions to cease operations at the Evansville
and Ft. Smith facilities, including the sale of appliance processing equipment
and the sale of the Ft. Smith building.  It will be moving its automotive
extrusion line equipment to another GenCorp Vehicle Sealing plant, where there
is excess space and capability to continue to make sill and belt components
for General Motors.  The closure process is expected to take about 90 days.
    GenCorp is a market-driven, technology-based company with strong positions
in polymer product markets, automotive and aerospace and defense.

SOURCE  GenCorp