WOODSTOCK, Ill. (February 1, 2002) - Wells Manufacturing Company, a world leader in the production and machining of continuous cast iron bar stock, announced today its acquisition of substantially all the assets of two Metals USA locations in Newark, N.J. and Salisbury, N.C. Both sites had been part of Metals USA's Specialty Plates and Shapes Group.

These two locations provide engineered metal products and services to a variety of industries. The Newark and Salisbury operations also might be recognized as Federal Bronze Products and Southern Alloy of America, Inc., their respective names prior to 1997 when Metals USA purchased them. They will now be known as Dura-Bar Metal Services, part of Wells' distribution network.

"These acquisitions will help us grow the Dura-Bar market in the coming years, and they immediately strengthen our market position in a large portion of the country," said Tom Wells, president and COO of Wells Manufacturing Company. "Our new structure allows us to serve customers in the most efficient, cost-effective manner possible."

Dura-Bar Metal Services will continue to service all existing customers of the former Metals USA operations. Business will be conducted from Salisbury and a new location in York, Pa. Each facility will be linked to Wells' other Dura-Bar Metal Services distribution center - formerly known as Midwest Alloys - located in Woodstock, Ill.

The two newest Wells sites will provide the same engineered metal products and services they provided as Metals USA, selling Dura-Bar - the continuous cast iron product of Wells' Dura-Bar division - bronze, brass, copper, aluminum and other metals.

With headquarters in Woodstock, Ill., a far Northwest suburb of Chicago, Wells Manufacturing Company has manufactured and distributed quality cast iron materials and finished components since 1947. Wells is a family-owned business in its third generation of leadership. In addition to Dura-Bar and Dura-Bar Metal Services, Wells is associated with Duro-Life Corporation, a wholly owned subsidiary located in Algonquin, Ill. Duro-Life specializes in the machining of Dura-Bar.

A variety of industries use Wells products, including fluid power, aerospace, automotive and agriculture.

Wells Manufacturing Company's Web site address is www.wellsmanufacturing.com.