TOTAL FINA S.A.
14 September 1999
HUTCHINSON, TOTALFINA'S subsidiary, agrees
to buy Kingston Warren in the United States
HUTCHINSON, a world leader in rubber products, has signed an agreement to buy
Kingston Warren, a subsidiary of New Jersey based Harvard industries. The
acquisition should become final at the end of September.
Kingston Warren is a major supplier of automotive sealing systems in the United
States with 1998 sales of US$ 120 million.
HUTCHINSON does 63% of its business in the automotive market, 23% in the
consumer segment and 11% with industry. Its scope of operations in the
automotive market covers six areas: body seals, precision seals, antivibration
systems, fluid transfer, power transmission systems and body parts. The
acquisition would strengthen HUTCHINSON's position as the second largest
manufacturer in the Western industrial rubber market.
This significant acquisition is in line with HUTCHINSON's strategy of rapid
business growth. Between 1990 and 1998, HUTCHINSON more than doubled its sales
from FF 5.7 billion to FF 12.9 billion. Growth was fueled, in particular, by
stepped-up international expansion, as HUTCHINSON continues to support the
globalization efforts of the world's major car-manufacturers.
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