Arvin to Expand Coil-Coating Operations

2 October 1998

Arvin to Expand Coil-Coating Operations

    COLUMBUS, Ind.--Oct. 2, 1998--Arvin Industries, Inc. , today announced that it has signed a letter of intent to acquire WorldSource Coil Coating, Inc. Terms of the agreement were not disclosed. The transaction is subject to the approval of the Arvin Board of Directors and any regulatory approvals.
    Arvin will acquire WorldSource, which operates a coil coating facility in Hawesville, Kentucky, in a stock transaction expected to be completed prior to year-end 1998. The addition of WorldSource's line to Arvin's Roll Coater subsidiary's three coil coating facilities will result in a significant increase in Roll Coater's geographic coverage and in better customer service capabilities.
    Bill Hunt, Arvin President and CEO, said, "We are pleased to continue to expand our coil coating group. This is an opportunity to further improve our service capability in the Southern markets, improve our proximity to new steel facilities in Southern Indiana, and support our key customers. We are going to see advantages in the ability of the combined operations to provide better transportation solutions to our customers' needs. In addition, we expect the synergies of the operations to be reflected in enhanced efficiencies for the coil coating group."
    Roll Coater, Inc. has coil coating facilities in Greenfield and Kingsbury, Indiana, and in Weirton, West Virginia, where aluminum and steel are coated for a broad range of construction, automotive, appliance and other commercial applications.
    Arvin Industries, Inc. is a global manufacturer of automotive components with 50 manufacturing facilities and 8 technical centers located in 16 countries. Arvin is a leading manufacturer of automotive exhaust systems and ride control products. Our replacement products are sold under various trademarks including Arvin, Maremont, Timax, ANSA and ROSI for exhaust systems; Gabriel shock absorbers; and StrongArm gas charged lift supports.
    For more information on Arvin Industries via the Internet, visit our Corporate Home Page at http://www.arvin.com or our Corporate News on the Net site at http://www.businesswire.com/cnn/arv.htm. For information via fax, please call our News On Demand service at 888-822-1161.