PLYMOUTH, Mich., April 21 /PRNewswire/ -- At the regular quarterly meeting
today, the Board of Directors of Simpson Industries, Inc. (Nasdaq: SMPS)
declared a quarterly dividend in the amount of $.10 per share. The dividend
is payable June 25, 1998 to shareholders of record on June 4, 1998.
In other business, the Board of Directors authorized management to
repurchase up to an aggregate of 650,000 shares of the Company's outstanding
common stock for general corporate purposes. The shares under this
authorization are expected to be acquired by Simpson Industries from time-to-
time, depending upon market conditions and other factors and will be
repurchased on the open market or through private transactions.
Simpson Industries supplies powertrain and chassis products to original
equipment manufacturers in the worldwide automotive and medium and heavy duty
diesel engine markets. Simpson's products are focused in four groups: noise,
vibration and harshness; wheel-end and suspension; modular engine assemblies
and high-precision machined components. Simpson's manufacturing units are
located in the United States, Canada, Mexico and Brazil. European and Asian
operations are located in England, France, Spain and Korea.
SOURCE Simpson Industries, Inc.
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Company News On-Call: http://www.prnewswire.com or
fax, 800-758-5804, ext. 107165
CONTACT:
Vinod Khilnani, Vice-President & Chief
Financial Officer, or Richard J. Koslowski, Manager, Planning &
Analysis of Simpson Industries, 734-207-6200
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