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Harvard Industries Inc. To Close Ripley Die-Casting Facility

29 April 1999

Harvard Industries Inc. To Close Ripley Die-Casting Facility

    LEBANON, N.J., April 28 -- Harvard Industries, Inc. today
announced plans to close its Hayes-Albion die-casting facility in Ripley,
Tennessee on August 31, 1999.
    "The decision to close a facility is a tough one, but it is the right one
for the future health of our company and our entire employee base," said Roger
G. Pollazzi, Harvard's chief executive officer.  "We explored every option we
could to avoid closure.  In the time remaining, we will work closely with our
employees and customers to ensure an equitable conclusion to their
relationship with our Ripley operations."
    In January, Harvard announced plans to sell the 100,000-square-foot
facility but has not received a viable offer.
    Harvard has notified the facility's approximately 265 employees of the
closure decision.
    "Our company is stronger than it has ever been and our non-automotive
ventures are picking up steam," said Pollazzi.  "We firmly believe we are on
the right track toward profitability and future success."
    Harvard Industries, Inc., designs, develops and manufactures a broad range
of components for automotive original equipment manufacturers, the automotive
aftermarket and industrial and construction equipment applications worldwide.
Headquartered in Lebanon, N.J., Harvard's 4,200 employees at 15 facilities in
the United States and Canada produce total vehicle sealing systems, a variety
of polymer products, high-strength steel assemblies and a wide array of
high-strength aluminum and iron products.