ACQUISITION

UK-based TI Group plc, the global specialized engineering company, has completed the acquisition of Busak+Shamban, a leader in polymer engineering, for a consideration of approximately $446 million, following the granting of full regulatory approval.

Busak+Shamban will join with TI Group's existing Forsheda business in a new division to be called TI Group Specialty Polymer Products, which will form one of the world's strongest polymer sealing companies.

Prior to its acquisition, Busak+Shamban was a privately owned company, best known for its expertise in thermoplastics and PTFE-based dynamic seals for hydraulic cylinders, shock absorbers, rotating shafts and aerospace actuators. Both bearings and sealing systems are supplied for applications in machine tools and robotics, marine, rail, off-highway, processing, chemical, medical and food, as well as in the aerospace and automotive markets.

For more information, contact TI Group, Inc., 375 Park Ave., New York, NY 10152-0222, 212-319-3101, FAX 202-319-3199.