Hoover Materials Handling Group Sells Blow-Molding Operations

ALPHARETTA, Ga. /August 27, 2003/ - -Hoover Materials Handling Group, Inc. (“Hoover”), announced on Wednesday, that the company has sold its blow-molding operations to Mauser GMBH (“Mauser”) allowing Hoover to focus its resources on its primary businesses. Under the agreement, Mauser will purchase Hoover’s Industrial Packaging Business Unit. This business unit includes Hoover’s limited-use Intermediate Bulk Container (“IBC”) facilities in Mt. Vernon, OH and Anniston, AL.; in addition to the company’s plastic drum plants in Charlotte, NC, and Pine Bluff, AR. Hoover will continue to own and operate its metal IBC plant in Beatrice, Nebraska.

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“The sale of our blow-molding operations allows us to focus our efforts on our core business and long-term strategy”, said Ernie Mathia, President of Hoover Materials Handling Group, Inc. “Hoover will continue to manufacture the high quality metal and rotationally molded products our customers expect from us including the Liquitote®, Tuff Tank® II, and APR®. Additionally, we plan to grow our presence in other products serving the liquid and dry material handling markets.”

About Hoover Materials Handling Group, Inc.

Based in Alpharetta, Georgia, Hoover Materials Handling Group Inc. (“Hoover”) has more than 50 years of experience as North America’s premier manufacturer of Intermediate Bulk Containers (“IBCs”), spare parts and accessories. Hoover’s IBCs are manufactured in an ISO 9001 facility and meet the highest quality standards in the industry.

Hoover is comprised of four separate product lines: returnable IBCs (metal and rotationally molded), turn-key dry material handling solutions (SURESYSTEMS™), Endural® (vacuum formed packaging) and iTRAM™ (IBC tracking). Hoover is a certified Responsible Care® partner, which indicates Hoover complies with a set of management practices and principles sponsored by the American Chemistry Council. Its participation in the program assures customers continuous improvement in the areas of pollution prevention, distribution, product stewardship and safety and health issues of workers and the public.

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