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Harbour Group Acquires Rumco and Pro-Fit Screw Manufacturing

11 May 1999

Harbour Group Acquires Rumco and Pro-Fit Screw Manufacturing

    ST. LOUIS, May 10 -- Harbour Group has acquired Rumco, Inc.
and Pro-Fit Screw Manufacturing, Inc., two privately held manufacturers of
fastener products, Sam Fox, Chairman and Chief Executive Officer of Harbour
Group, announced today.  Terms of the transactions were not disclosed.
    Rumco and Pro-Fit, which are both based in the Chicago suburb of Elk Grove
Village, Ill., manufacture fasteners for automotive, appliance, electronic and
other industrial applications.  Rumco, founded in 1981, manufactures specialty
threaded fasteners.  Pro-Fit, founded in 1989, manufactures standards and
blanks that can be finished by other manufacturers.  Products of both
companies are sold to fastener distributors and OEMs.
    Mr. Fox said the acquisitions of Rumco and Pro-Fit are additional examples
of Harbour Group's commitment to its strategy of developing manufacturing
companies in highly fragmented industries.  "This acquisition creates
significant marketing and sales synergies with MW Industries Inc., Harbour
Group's Industrial Spring and Fastener Group," he said.  "We have broadened
our product offerings and increased market access."
    MW Industries is a manufacturer of a full range of industrial springs,
fasteners and flat stamped products for transportation, construction,
agriculture, electronics and other industries.  The company employs
approximately 650 people and is headquartered in Logansport, Ind.
    Dan Sebastian, chief executive officer of MW Industries, said "The
acquisition of Rumco and Pro-Fit enables us to better serve our customers as
we meet their requirements from product development through production of
critical hardware components."
    Harbour Group is a privately owned company based in St. Louis.  Harbour
Group, its related companies and former subsidiaries (the public companies in
which Harbour Group retains varying amounts of stock ownership), are engaged
in the manufacture of industrial products, including automated production
equipment, auxiliary plastic processing equipment, automotive accessories,
spray equipment and products, textile machinery, component parts for the
computer industry, pre-engineered building components, and heat exchange
equipment.  These businesses have annual revenues in excess of $1.5 billion.