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General Chemical Group Completes Acquisition of Defiance

25 February 1999

General Chemical Group Completes Acquisition of Defiance

    HAMPTON, N.H.--Feb. 24, 1999--The General Chemical Group Inc.today completed its previously announced acquisition of Defiance, Inc.through a cash tender offer and merger.
    Defiance shareholders who did not tender their stock in the tender offer, which expired Feb. 11, have the right to receive the same $9.50-per-share price paid in the offer.
    General Chemical is a leading producer of diversified chemicals, related services and manufactured products. Defiance is a major manufacturer of precision bearings for the auto industry.