Released on Monday, April 30, 2007

Intermet Corp., Fort Worth, Texas, confirmed it has sold its European operations to Sakthi Auto Components Ltd., Coimbatore, India, effective April 27, 2007.

The company said the move was an attempt to focus its efforts on U.S. customers.

"The sale of our European operations gives us a much stronger balance sheet and allows us to focus on the U.S. marketplace and pursue strategic acquisitions or partnerships,” said Jeff Mihalic, president and chief executive officer.

Intermet has commissioned an advisory board of industry experts to help in determining its future strategic plan.

"We have a diverse group of senior advisors who provide guidance in areas such as lean manufacturing and long-term industry trends,” Mihalic said. “Their input ensures that our strategic direction is consistent with the expectations of our customers."

Intermet is a manufacturer of metal castings for the automotive, commercial vehicle and industrial markets with approximately 2,700 employees.