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Citation Announces Suspension of Talks

17 September 1998

Citation Announces Suspension of Talks to Acquire French Valfond Group

    BIRMINGHAM, Ala.--Sept. 17, 1998--Citation Corporation announced today that after initial discussions concerning the possible acquisition of the French Valfond Group, following the signing of a letter of intent, the parties have decided to suspend the project. The project is considered to be premature in light of current market conditions.
    Valfond produces and machines aluminum and iron castings at 42 locations in Europe.
    The existing alliance between Citation and Valfond continues as before.
    Citation produces aluminum, iron, and steel castings, steel forgings, and machines and assembles components at 19 divisions primarily located in the mid-west and south.