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ASTROTECH SUBSIDIARY SIGNS LETTER OF INTENT TO PURCHASE BRITISH OPERATION

 PITTSBURGH, Oct. 6 /PRNewswire/ -- S. Kent Rockwell, Chairman and Chief Executive Officer of Astrotech International Corporation (AMEX: AIX) today announced that Astrotech's HMT Inc. subsidiary has signed a letter of intent to acquire Rubbaglas (Petroseals) Ltd., a privately held British Company headquartered in London, England. The consummation of the transaction is conditional upon, among other things, execution of a definitive agreement, obtaining requisite acquisition financing and completion of the Company's due diligence investigation.
 Rubbaglas (Petroseals) Ltd. has fifty years' experience in the design, manufacture and installation of equipment for the aboveground storage tank industry. Rubbaglas (Petroseals) Ltd.'s manufacturing facility is in London, England and it has a sales network and distribution system throughout the United Kingdom, Continental Europe, Africa and the Middle East.
 Mr. Rockwell said that "this strategic acquisition would consolidate our European and Mid-East operations. Rubbaglas' sales network and distribution system, currently in place throughout the European and Middle East Regions, will facilitate the sales of our products and provide greater access to these markets."
 Astrotech is a leading supplier of proprietary products and services for the inspection, maintenance and repair of large aboveground storage tanks located primarily at petroleum and petrochemical terminals, refineries and pipeline facilities. These services and products enable its customers to comply with increasingly stringent environmental regulations and to improve operating efficiencies.
 Astrotech's Common Stock and Warrants currently trade on the American Stock Exchange under the symbols AIX and AIXws, respectively.
 -0- 10/6/93
 /CONTACT: Raymond T. Royko, Vice President and Secretary of Astrotech International, 412-391-1896/
 (AIX)


CO: Astrotech International Corporation; HMT Inc.; Rubbaglas
 (Petroseals) Ltd. ST: Pennsylvania IN: OIL SU: TNM


KC-CD -- PG005 -- 9288 10/06/93 11:07 EDT
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Publication:PR Newswire
Date:Oct 6, 1993
Words:279
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