CRESSONA, Pa.--(BUSINESS WIRE)--July 10, 1996--Alumax Extrusions, Inc., a subsidiary of Alumax Inc. (NYSE: AMX; Toronto: AXI), today announced that it has signed a definitive agreement for the sale of the company's Franklin, New Hampshire facility, including one of the two presses at this facility, to Aavid Engineering, Inc., a wholly-owned subsidiary of Aavid Thermal Technologies, Inc. Alumax Extrusions will relocate the second press to one of its other manufacturing facilities.

Terms of the sale were not disclosed. Closing is expected to occur in approximately one month.

The Franklin, New Hampshire facility was acquired by Cressona Aluminum Company in 1994 from Alcan Aluminium, Ltd., in a transaction in which Cressona also acquired a four-press extrusion operation in Elizabethton, Tennessee. Cressona Aluminum Company was acquired by Alumax on January 31, 1996.

Aavid Thermal Technologies, Inc., headquartered in Laconia, New Hampshire, is a leading provider of thermal management products that dissipate unwanted heat in electronic and electrical components and systems.

Alumax Extrusions, Inc., headquartered in Cressona, Pennsylvania, is a world leader in the manufacture of soft-alloy aluminum extrusions for the building and construction, transportation, machinery, electrical and consumer durables markets. Through its Cressona Aluminum business unit, Alumax Extrusions is a leading supplier to the service center industry.

Alumax Inc. is a world leader in aluminum with year-end 1995 assets of more than $3.1 billion and 1995 revenues of more than $2.9 billion.

Alumax produces and markets primary aluminum ingot, billet and slab and is a major fabricator of value-added aluminum products for the building and construction, transportation, packaging and consumer durables industries.