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Mannesmann Sachs Sells Sintermetal to MIBA

19 July 1999

Mannesmann Sachs Sells Sintermetal to MIBA

    DUSSELDORF, Germany, July 19 -- Mannesmann Sachs, a
world-wide leading supplier to the automotive industry, sells its Spanish
business unit Sintermetal S.A. to the Austrian group MIBA.  The transaction is
effective as of June 30, 1999.
    Sintermetal is a leading producer of sintered parts for shock absorbers
and engine parts in Europe.  In 1998, the company achieved sales of approx.
Euro 32 m with some 330 employees.  For 1999, sales are expected to rise to
about Euro 35 m.
    With this measure, Mannesmann Sachs continues the streamlining of its
portfolio.