Arvin Acquires 49% of Prestigious German O.E. Exhaust Manufacturer

4 December 1998

Arvin Acquires 49% of Prestigious German O.E. Exhaust Manufacturer

    COLUMBUS, Ind.--Dec. 3, 1998--Arvin Industries, Inc. , a leading worldwide manufacturer of vehicle exhaust systems and ride control products for the original equipment (O.E.) and replacement markets, and Zeuna Starker GmbH & Co.KG, a German manufacturer of automotive exhaust systems, announced today the signing of a cooperative agreement, giving Arvin a 49% interest in Zeuna Starker. The agreement which is subject to regulatory approval is expected to close by December 31, 1998.
    The announcement was made jointly by Arvin President and Chief Executive Officer V. William Hunt and Hubert Starker, Managing Director of Zeuna Starker. The terms of the agreement have not been released.
    "Together our companies will be able to leverage our combined strengths in providing our customers full system / full service exhaust product needs in the global marketplace," commented Hunt. "Zeuna Starker's outstanding technical reputation, international presence and complementary customer base will greatly enhance Arvin's global leadership position in the exhaust market."
    "I am particularly pleased that Hubert Starker is willing to continue on as Managing Director. His leadership has been a driving force behind Zeuna Starker's growth and success. Arvin's 49% investment will be managed by Wesley B. Vance, President, Arvin Exhaust," Hunt concluded.
    Zeuna Starker is a premier exhaust systems supplier headquartered in Augsburg, Germany. With annual revenues of 725 million Deutsche Marks, or roughly 425 million U.S. Dollars, Zeuna Starker is one of the largest independent exhaust producers in Germany. Major customers include Mercedes Benz, BMW, Volkswagen, Fiat, Lancia, Alfa Romeo, Ferrari, Volvo, Rolls Royce, and Bentley. Zeuna Starker offers a full product range of exhaust products including catalytic converters, pipe, mufflers and complete systems to the original equipment automotive manufacturers, with manufacturing facilities in Germany, South Africa, Italy, Hungary and the United States.
    Arvin Industries, Inc., with revenues of $2.3 billion, is a global manufacturer of automotive components with over 50 manufacturing facilities and eight technical centers located in 16 countries. Major original equipment exhaust customers include Ford, Jaguar, Mazda, General Motors, DaimlerChrysler, Toyota, Volkswagen, Fiat, Renault, Rover, BMW, Volvo, Peugeot, Lamborghini and Maserati. Arvin is a leading manufacturer of automotive exhaust systems, ride control products, and gas charged lift supports. Our replacement products are sold under various trademarks including Arvin, Maremont, Timax, ANSA and ROSI for exhaust systems, Gabriel in shock absorbers, and StrongArm gas charged lift supports.
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