The heat transfer business had sales in 1998 of approximately $56 million, manufactures in four South African locations and employs approximately 1,200 people. Terms of the acquisition were not disclosed.

Dick Snell, Chairman and Chief Executive Officer Federal-Mogul

Headquartered in Southfield, Michigan, Federal-Mogul is an automotive parts manufacturer providing innovative solutions and systems to global customers in the automotive, light truck, heavy-duty, and farm and industrial markets. The company was founded in 1899.

The acquisition is expected to expand Hayes Lemmerz's machining capacity in Europe and to enable MGG to grow its business in finished aluminum cast products for the automotive, heavy truck and heating industries. MIB is a full service machining supplier, specializing in the machining of large aluminum castings for a variety of automotive and industrial applications and is located in Bergen, Netherlands. MIB has 24 state-of-the- art machining centers at its 40,000-square-foot manufacturing facility and has approximately 100 employees.

"This is an important strategic step for MGG," said Harrie Giesen, Managing Director of MGG in making the announcement. "With the acquisition of MIB, we now have expanded in-house manufacturing capability and capacity to provide our customers finished machined castings." This world class operation provides a strong base for expansion as we grow MGG sales, as well as sales of other Hayes Lemmerz aluminum products in Europe."

Hayes Lemmerz International, Inc., with the completion of its acquisition of CMI International, is one of the world's leading global suppliers of automotive and commercial highway wheels, brakes, suspension, structural and other light weight components. Together, the company has pro forma sales of close to $2.5 billion with 40 plants, 10 joint ventures and over 15,000 employees worldwide.