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CHEMDESIGN ACCEPTS LARGE ORDER FOR FINE CHEMICAL INTERMEDIATE FROM NEW DOMESTIC CUSTOMER

 CHEMDESIGN ACCEPTS LARGE ORDER FOR FINE CHEMICAL
 INTERMEDIATE FROM NEW DOMESTIC CUSTOMER
 FITCHBURG, Mass., Aug. 31 /PRNewswire/ -- ChemDesign Corporation (NASDAQ: CDCC) today announced that it has accepted a purchase order from a major domestic corporation for the custom manufacture of a fine chemical intermediate. The order, which requires production to commence in the fourth quarter of this year and carry over into 1993, has a sales value of between $6 and $9 million over the next 18 months, depending upon the customer's needs.
 Commenting on the receipt of this order, Richard E.T. Brooks, ChemDesign's chairman and chief executive officer, stated: "We are pleased to be of service to this new customer and appreciate the confidence expressed in us with the placement of such an order. We are committing significant resources to this project and expect that it will be the beginning of a long-tern relationship between ChemDesign and the customer. We believe that this project is a reflection of the broad and growing recognition of the ChemDesign Group as the leading producer of custom fine chemicals in North America."
 Michael J. O'Donnell, ChemDesign's chief financial officer, added: "The revenue potential of this order has previously been reflected in our near-term outlook for 1992 and early 1993, and we are pleased to have it confirmed after productive negotiations, with the customer by George Austin, our senior vice president of marketing and Mr. Brooks. Although we will continue to have some underutilized equipment in the fourth quarter of this year, with this order in hand we remain comfortable with analysts' current earnings projections for the balance of the year."
 ChemDesign is engaged primarily in the development, manufacture and sale of fine chemicals on a custom basis. As a custom fine chemical producer, the company provides development and manufacturing services to its customers and produces a wide variety of products, each manufactured to the customer's specifications, The company also manufactures and sells other fine and specialty chemicals.
 -0- 8/31/92
 /CONTACT: Michael J. O'Donnell, vice president and chief financial officer or Steven E. Borgeson, senior vice president and general counsel, 508-345-9999/
 (CDCC) CO: ChemDesign ST: Massachusetts IN: CHM SU:


CH -- NE003 -- 4845 08/31/92 09:55 EDT
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Publication:PR Newswire
Date:Aug 31, 1992
Words:367
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