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Twin Disc, Inc., to Acquire Marine Transmissions and Industrial Products

21 December 1998

Twin Disc, Inc., to Acquire Marine Transmissions and Industrial Products Manufacturer

    RACINE, Wis.--Dec. 21, 1998--Twin Disc, Inc., has signed a definitive agreement to acquire Technodrive S. p. A. of Decima, Italy. The agreement was announced today by Twin Disc's Michael E. Batten, Chairman and Chief Executive Officer, and Carlo Contri, President of Technodrive.
    Technodrive is a privately owned designer, manufacturer and marketer of marine transmissions, pump mount power take-offs, power take-offs, clutches and hydraulic adapters serving the marine and industrial markets. The Company has two facilities located in Decima, Italy, and one in Chambery, France, with annual revenues of $11 million.
    Commenting on the purchase, Mr. Batten said, "The acquisition of Technodrive will expand our core business by extending our marine transmission range with lower horsepower units and adding new industrial clutch products to our marine and industrial businesses. In addition, we look forward to introducing Technodrive to our global distribution and direct sales network. The acquisition is expected to be completed within the next 60 days and will be accretive to earnings in the current year."
    Twin Disc is a manufacturer of heavy-duty power transmission equipment and electronic control systems used in marine, industrial, agricultural, off-highway specialty vehicles, government and construction equipment markets.
    This press release may contain statements that are forward looking as defined by the Securities and Exchange Commission in its rules, regulations and releases. The Company intends that such forward-looking statements be subject to the safe harbors created thereby. All forward-looking statements are based on current expectations regarding important risk factors.