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Friction Products Division The Friction Products Division is the world's largest independent manufacturer of friction materials for the braking of aircraft, passenger cars, trucks, buses, off-highway equipment and industrial machinery. For aircraft. Friction Products supplies materials compounded of powdered metal, pressed to shape and sintered. For most automotive brakes, the Division supplies an organic mixture which may be rolled, extruded or heat-and-pressure molded, depending upon the type of application. Products are delivered as rolls, blocks for trucks and as linings or disc pads for passenger cars. Individual friction formulations are carefully developed for specialized service and closely controlled during manufacture. The Division is also widely experienced in non-automotive braking applications such as those for industrial machinery, cranes, mine hoists, power shovels, back hoes, tractors and the like. Just as Friction Products is able to supply the specified braking material for cars made anywhere in the world, it is able to do the same for industrial machinery regardless of where it is manufactured. In addition, Friction Products manufactures laminated plastic components of ABK material, made from resin-impregnated fabric molded under heat and pressure. Providing excellent bearing service under impact or sustained pressure, ABK material is; used in steel rolling mill bearings, ball-joint suspension bearings for autos and in many different types of industrial machinery. Abex first started manufacturing friction materials in 1902 and has been growing in the business ever since. Consistent dedication to quality, dependability and responsibility has enabled Abex to assume a position of world leadership in the friction products industry. Worldwide sales for the Friction Products Division in 1978 amounted to S143 million, an increase of almost 17 percent over 1977. DIVISION CAPABILITIES The importance of the customers we serve attests to our role and reputation in the friction materials field. Many of the world's largest automobile, truck and aircraft manufacturers purchase our products for original equipment installation and service. Abex friction materials are also approved for use on some of the world's fastest and most exotic passenger cars. As recognized leaders in friction material technology, our products are original equipment components for vehicles of practically every description -- many of the smallest, the largest, the fastest, the most expensive passenger cars; light trucks and heavy trucks; railroad trains and mass transit systems, and the tiniest private aircraft in the world. A list of our original equipment customers is included on pages 31. 32, and 33. 2