

                                                     Exhibit 99.1
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FOR IMMEDIATE RELEASE

FROM:     WILLIAM J. McCARTHY
          President and Chief Executive Officer

THE BOARD OF DIRECTORS OF ABS INDUSTRIES, INC. DETERMINES TO
SELL THE COMPANY
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          Willoughby, Ohio, January 22, 1996 - ABS Industries, Inc.
(NASDAQ:  ABSI) announced today that its Board of Directors has 
determined to seek a buyer for the Company and has authorized the 
hiring of an investment banking firm to advise the Company in 
connection with its pursuit of a sale of ABS.  The Board of 
Directors of the Company expects to select the investment banking
firm within a week.  William J. McCarthy, President and Chief 
Executive Officer of ABS, stated that "because of the severe 
liquidity problems faced by the Company, the Board of Directors 
has determined that a sale of ABS is the best alternative to secure
the long term viability of ABS and to maximize value for its 
creditors and shareholders."

          Mr. McCarthy also stated that "ABS is endeavoring to 
work out a short term financing arrangement with its senior 
lenders and major customers in order to give the Company 
sufficient time to pursue such sale."  Mr. McCarthy further 
stated that "the Company is currently operating day-to-day 
with advances from its senior lenders."

          ABS, through its wholly-owned subsidiaries, Colfor, 
Inc. and Colmach, Inc., operates exclusively in the cold and 
warm forging industry and the machining of forged components.

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