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Hahn Elastomer Corporation Acquires ATREX, Inc. and Plastigage Corporation

13 March 2000

Hahn Elastomer Corporation Acquires ATREX, Inc. and Plastigage Corporation

    PLYMOUTH, Mich., March 10 Hahn Elastomer Corporation has
expanded its presence as a supplier of high quality plastic and elastomeric
extrusions and die-cut products for the automotive, appliance and furniture
industries with the acquisition of ATREX, Inc. and Plastigage Corporation.
The announcement was made by Richard Ferrari, chairman of Hahn Elastomer
Corporation.
    "We made this move for a number of reasons," said Ferrari.  "We wanted to
diversify our customer base, as well as to expand capacity to handle the
growth Hahn is projecting for this year.  But we also wanted the people of
ATREX and Plastigage to help us shape the future of this company.  Both
acquired companies are highly regarded -- and that's a credit to their
workforce.  We believe that people, given the right leadership and direction,
can achieve anything they set out to do -- it was a natural fit."
    The deal, finalized on February 24, makes Hahn Elastomer the 10th largest
plastic extruder servicing the automotive and appliance industries.  ATREX and
Plastigage will continue to operate as wholly owned subsidiaries of Hahn
Elastomer Corporation.
    "As a result of the purchase, the number of extruders under the Hahn
umbrella increases from 21 to 81 and the number of employees increases from
120 to over 360," noted William Kemner, president of Hahn Elastomer
Corporation.  "The number of facilities has grown to five -- one 170,000
square foot facility in Jackson, Mich., one 70,000 square foot plant in
Warren, Mich. and three in Plymouth, Mich. totaling 70,000 square feet."
    The benefits both to customers and to Hahn Elastomer are many.  Customers
now have access to the resources of a competitive, full service supplier --
one with the ability to create new technologies as well as to transfer
existing technologies to new markets; technologies that reduce cost, save
weight and improve the performance of their products.  Hahn benefits from
increased economies of scale, increased production capacity, expanded
engineering capabilities and a broader customer base.  It also benefits from
the knowledge and commitment of its nearly 250 new employees.
    The three entities had combined 1999 sales of $42 million.  The
consolidated corporation is projected to have sales between $48 and $50
million in the year 2000, a growth rate of 20 percent.