SPS Announces Merger Agreement

Apr 05, 2001, 01:00 ET from SPS Technologies, Inc.

    JENKINTOWN, Pa., April 5 /PRNewswire/ -- SPS Technologies, Inc. (NYSE:   ST)
 announced today that it has entered into a merger agreement to acquire the
 outstanding stock of M. Argueso & Co., Inc. ("Argueso"), headquartered in
 Mamaroneck, New York.  Argueso is a leading manufacturer and distributor of
 wax blends for use in the investment casting industry.  Argueso's products are
 used in a variety of investment casting applications in diverse industries
 such as aerospace, power generation and medical.  For the year ended
 December 31, 2000, Argueso reported sales of approximately $21.0 million.
     SPS intends to operate Argueso as part of its Specialty Materials and
 Alloys Group.  Mr. John Argueso, Argueso's President, and his management team
 will remain an integral part of the acquired Company's management.  The
 acquisition of Argueso advances the Group's strategy of expanding the breadth
 of its product offerings and technical support to the investment casting
 industry.
 
     This news release contains statements, which may constitute forward-
 looking statements as defined in the Private Securities Litigation Reform Act
 of 1995.  Such forward-looking statements involve a number of assumptions,
 risks and uncertainties that could cause actual results, performance or
 achievements of the Company to differ materially from those matters expressed
 in or implied by such forward-looking statements.  Additional information
 regarding these risk factors and uncertainties is detailed in the Company's
 Securities and Exchange Commission filings.
 
 

SOURCE SPS Technologies, Inc.
    JENKINTOWN, Pa., April 5 /PRNewswire/ -- SPS Technologies, Inc. (NYSE:   ST)
 announced today that it has entered into a merger agreement to acquire the
 outstanding stock of M. Argueso & Co., Inc. ("Argueso"), headquartered in
 Mamaroneck, New York.  Argueso is a leading manufacturer and distributor of
 wax blends for use in the investment casting industry.  Argueso's products are
 used in a variety of investment casting applications in diverse industries
 such as aerospace, power generation and medical.  For the year ended
 December 31, 2000, Argueso reported sales of approximately $21.0 million.
     SPS intends to operate Argueso as part of its Specialty Materials and
 Alloys Group.  Mr. John Argueso, Argueso's President, and his management team
 will remain an integral part of the acquired Company's management.  The
 acquisition of Argueso advances the Group's strategy of expanding the breadth
 of its product offerings and technical support to the investment casting
 industry.
 
     This news release contains statements, which may constitute forward-
 looking statements as defined in the Private Securities Litigation Reform Act
 of 1995.  Such forward-looking statements involve a number of assumptions,
 risks and uncertainties that could cause actual results, performance or
 achievements of the Company to differ materially from those matters expressed
 in or implied by such forward-looking statements.  Additional information
 regarding these risk factors and uncertainties is detailed in the Company's
 Securities and Exchange Commission filings.
 
 SOURCE  SPS Technologies, Inc.