Jim Brewer wrote:

Paul,
Just thought you might like to know:

   Anderson, Indiana -- Delco Remy International Inc., an auto-parts maker
acquired this year by a Citigroup Inc. unit, agreed to buy a Mazda Motor
Corp. business that rebuilds transmissions and other parts in North America.

     Terms weren't disclosed. Delco Remy will buy all the assets of the
Jacksonville, Florida-based business, which remanufactures automatic
transmissions, transaxles and rotary engines for Mazda's North American
service operations, Mazda spokesman Jay Amestoy said. Mazda is an affiliate
of Ford Motor Co.

     The parts supplier plans to retain the Jacksonville unit's 70 employees
when the sale is complete. Mazda's North American unit is based in Irvine,
California.

     Delco Remy last month bought Denmark's Auto Matic Transmission, which
rebuilds and restores automatic transmissions for automobiles and commercial
vehicles. Citigroup's Court Square Capital Ltd. completed the purchase of
the 47 percent of Delco Remy it didn't already own in March for about $109
million, or $9.50 a share.

     General Motors Corp. spun off the Anderson, Indiana-based maker of
starter motors and alternators in 1994, with Court Square and company
managers as major investors. Delco Remy shares were sold the public in 1997
at an initial price of $12 a share.

 
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