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Mark IV Completes Sale of Purolator Automotive Filter Business

26 February 1999

Mark IV Completes Sale of Purolator Automotive Filter Business

    AMHERST, N.Y.--Feb. 26, 1999--Mark IV Industries, Inc. today announced that is has completed the sale of its Purolator automotive filter business to Arvin Industries, Inc., for $276 million. The purchase price includes the assumption of approximately $6.0 million of debt.
    Purolator Products was acquired by Mark IV in 1994. The automotive filter unit had annual revenue of $345 million. Mark IV retains ownership of Purolator's specialty filtration operations, which have annual revenue of approximately $150 million, and serve industrial, transportation, petroleum and chemical markets around the world. Mark IV previously announced the agreement to sell its Purolator automotive filter unit on February 8, 1999.
    Mark IV Industries, Inc. is a $2.0 billion global manufacturing company headquartered in the Buffalo suburb of Amherst, New York, employing 15,000 people worldwide. The company's core technologies include power transmission, fluid transfer and specialty filtration systems and components for global industrial and automotive markets. For more information on Mark IV, visit the company's web site at http://www.mark-iv.com.