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Holley Performance Products, Inc. to Purchase Weiand Automotive Industries

11 August 1998

Holley Performance Products, Inc. to Purchase Weiand Automotive Industries

    BOWLING GREEN, Ky., Aug. 10 -- Holley Performance Products,
Inc. announced today that it will acquire Weiand Automotive Industries of Los
Angeles, California.
    Holley, with operations in Bowling Green, Kentucky and Springfield,
Tennessee, is a leader in the design, manufacturing, and marketing of
performance engine management systems for the circle track (NASCAR), drag race
(NHRA and IHRA), street performance (muscle car, street rod and sport truck),
marine, and industrial markets. Weiand, with operations in Los Angeles,
California, is a leader in intake manifolds, water pumps, and super charge
technology for the street rod, racing and marine markets.
    Jeffrey G. King, Holley President and CEO, said, "The addition of Weiand
Automotive to our company represents the first step in our external growth
strategy. Weiand products complement Holley's current assortment of circle
track, drag racing, street rod, and marine products. Our companies share a
common history and are distributed through the same marketing channels. With
the addition of Weiand's intake manifold coverage, the new Holley-Weiand
product line is very broad with coverage for both carbureted and fuel injected
vehicles. We will close on the Weiand acquisition on August 21, 1998."
    Mr. King continued, "The addition of super chargers and water pumps
further strengthens Holley's systems' approach to the performance market.
Holley now offers complete fuel, air, and electronic control systems for the
performance engine market.
    Mr. King concluded by saying, "We are very proud to add the Weiand name to
the Holley family. Weiand is a great company with a strong and well respected
name in the performance market. We are actively looking at other acquisition
opportunities to support our systems approach to the performance engine
market."
    Holley products are the heart and soul of performance engines and are used
throughout the world in racing, street, marine, and industrial high
performance engines.