Cash flows from operating activities:

  Net income

$    55,200 

$    48,700 

  Items not affecting cash:

    Depreciation and amortization

37,800 

32,400 

    Pension and compensation related items

(7,100)

(5,300)

    Deferred income taxes

13,100 

14,200 

  Changes in assets and liabilities, net of
     effects of businesses acquired and
     discontinued:

      Accounts receivable

(34,600)

(500)

      Inventories

17,700 

(10,000)

                Other Assets

(25,700)

(8,600)

      Accounts payable

(17,900)

(6,800)

      Other liabilities

(17,300)

(22,500)

       Net cash provided from 
        operating activities

21,200 

41,600 

Cash flows from investing activities:

  Acquisitions and investments

(78,000)

(25,100)

  Divestitures and asset sales

-    

1,400 

  Purchase of plant and equipment, net

(42,500)

(39,900)

     Net cash used in investing activities

(120,500)

(63,600)

Cash flows from financing activities:

  Credit agreement borrowings, net

77,700 

26,100 

  Other changes in long-term debt, net

(4,000)

(1,200)

  Changes in short-term bank borrowings

30,000 

1,100 

  Common stock transactions

300 

(200)

  Cash dividends paid

(4,400)

(3,600)

      Net cash provided by financing activities

99,600 

22,200 

Effect of exchange rate fluctuations

(100)

(100)

      Net increase in cash

200 

100 

Cash and cash equivalents:

  Beginning of the year

900 

800 

  End of the period

$     1,100 

$       900