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GKN Sinter Metals Acquires Fairview Sintered Metals, Inc.

6 May 1999

GKN Sinter Metals Acquires Fairview Sintered Metals, Inc., of St. Mary's, PA

         World's Largest Producer of Powder Metal Parts & Components
      Looking to Broaden Scope of Operations in North America's P/M Belt

    AUBURN HILLS, Mich., May 6 -- GKN Sinter Metals today
announced it had acquired Fairview Sintered Metals, Inc., a St. Mary's, PA-
based powder metals parts producer.
    Fairview Sintered Metals posted 1998 sales of approximately $13 million.
It produces powder metal bearings, bushings, and other structural components
for customers in the automotive, power tool, appliance, lawn & garden, as well
as farm & industrial equipment businesses.  The company employs 140 people and
has net assets of $5.5 million.
    In announcing the purchase, GKN Sinter Metals President & CEO Seifi
Ghasemi said that the addition of Fairview Sintered Metals would "broaden our
scope of operations" in the geographic center of the North American P/M
industry, and "underscores our belief that the best our industry has to offer,
more times than not, can be found in this region."
    The company is particularly strong in its tooling capacities which provide
both cost advantages and shorter tooling lead times.  "It is well recognized
within P/M circles that our new plant has some of the best toolmakers in the
industry," said Mr. Ghasemi.
   An array of powder metals are used in parts production, including brass,
bronze and diluted bronze-bearing material, copper, stainless steel, iron
base, carbon steel, nickel steel, copper steel, high purity steel, infiltrated
steel, and air-hardened steel.  Manufacturing capabilities include design and
development of P/M processes, prototyping, and controlled production.
    GKN Sinter Metals, with over 30 locations spanning 10 countries and five
continents, has sales in excess of $600 million and is the world's largest
producer of powder metal parts.  The Company employs more than 5,000 people
and produces over 4,000 different parts for the automotive, lawn & garden,
power tool, and home appliance markets.  GKN Sinter Metals is a wholly owned
subsidiary of U.K.-based GKN plc, a global industrial company.