Companies Finalize Three-Year Agreement; Ice Will Produce 4.4 Million Parts Annually

TOLEDO, Ohio – Aug. 17, 2006 – Ice Industries, a leading metal stamping and assembly company, recently signed an agreement to provide Raybestos Products Co. with parts for its wet friction operations.

Raybestos Products, one of the largest developers and suppliers of friction material products, produces wet clutch, wet brake, torque converter, differential and synchronizer applications that are utilized in a number of major vehicle markets, including Automotive, Truck and Bus and Off-Highway.

The three-year agreement calls for Ice to provide Raybestos Products with 4.4 million stamped components annually. The components will be used in a wide variety of applications, including powershift transmissions, wet brakes and power take-offs, predominantly for the Off-Highway market.

“Raybestos Products is a well-respected supplier that has a great reputation in vehicular markets,” said Paul Bishop, President and Chief Operating Officer, Ice Industries. “Ice is pleased with the opportunity to provide Raybestos with the first-rate service and quality our customers have come to expect from us, as well as an occasion to expand our capabilities into the Off-Highway market.”

Under the terms of the agreement, Ice will acquire a press from Raybestos for a portion of the program.

“Ice Industries has demonstrated a willingness to make the extra effort to accommodate our needs, and we are confident the company will provide Raybestos with high-quality products and service,” said Eric Krepps, Senior Vice President of Operations, Raybestos Products.

Ice Industries will conduct the work for Raybestos Products at the Ice Mississippi facility in Grenada. The Grenada plant is a 400,000 square-foot manufacturing facility with capabilities that include metal stamping, roll forming, manual and robotic welding, buffing and assembly. Additional work will be completed at the Deerfield Manufacturing plant in Mason, Ohio.

About Ice Industries

Ice Industries is a metal stamping and assembly company based in Sylvania, Ohio. The company has three facilities: Acklin Stamping in Toledo; Deerfield Manufacturing in Mason, Ohio; and Grenada Stamping & Assembly in Grenada, Miss. The company works with leaders in the automotive, appliance and heat transfer/HVACR industries. For more information, please visit