Sequa Adds Baldwin Roll Handling Operations to MEGTEC Systems Unit

Business Wire, Oct 2, 2001

Business Editors

NEW YORK--(BUSINESS WIRE)--Oct. 2, 2001

The MEGTEC Systems unit of Sequa Corporation (NYSE, SQAA) has completed the purchase of the roll handling business of Baldwin Technologies Inc. Terms of the transaction are not available.

The newly acquired operations, with locations in Sweden and China, will be operated in conjunction with Wisconsin-based MEGTEC Systems. The units manufacture specialty products, primarily for newspaper printing, that include splicers, infeeds, and unwinds/rewinds. MEGTEC Systems, a global supplier of equipment for use in commercial printing and industrial markets, produces drying and conditioning systems, paper handling equipment, and air emission control systems.

Commenting on the transaction, Alan Fiers, president of MEGTEC Systems, said, "The acquisition of the roll handling operations broadens MEGTEC's position in the printing industry and enhances our portfolio of splicing systems technology. Moreover, the addition of the Shanghai operation provides a strong, strategically placed manufacturing base to support expanding markets in China and throughout Asia." Sequa Corporation is a diversified manufacturer whose other operations include the repair and manufacture of advanced components for jet engines; the production of rocket propellant and gas generators for military and space use; the manufacture of automotive airbag inflators; the coating of metal coil for use in building products and other applications; the manufacture of specialty chemicals for laundry detergents and industrial uses, including pulp and paper bleaching; the production of men's formalwear; and the manufacture of cigarette lighters, power outlets and other automotive components.

Note: This press release may include forward-looking statements that are subject to risks and uncertainties. A number of factors, including political, currency, regulatory and competitive and technological developments, could result in material differences between actual results and those outlined in any forward looking statements. For additional information, see the comments included in Sequa's filings with the Securities and Exchange Commission.