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CONTINENTAL MATERIALS ANNOUNCES TERMINATION OF ACQUISITION TALKS

 CONTINENTAL MATERIALS ANNOUNCES TERMINATION OF ACQUISITION TALKS
 CHICAGO, Feb. 12 /PRNewswire/ -- Continental Materials Corp. (AMEX: CUO) announced today that negotiations with Hussmann Corp., a subsidiary of Whitman Corp. (NYSE: WH), for the purchase of that company's Krack Corp. subsidiary (a manufacturer of refrigeration equipment) have been terminated.
 Continental Materials Corp. (CMC) will charge against fourth quarter 1991 earnings the costs incurred in connection with the terminated acquisition attempt. In a separate matter, CMC announced it has reached a favorable settlement of a state income tax audit which will substantially offset the after-tax costs of the terminated acquisition attempt.
 CMC expects to announce earnings results for the fourth quarter and full-year 1991 on or before March 13.
 -0- 2/12/92
 /CONTACT: Keith E. Owens of Lesnik Public Relations, 708-291-1080, for Continental Materials/
 (CUO WH) CO: Continental Materials Corp.; Hussmann Corp. ST: Illinois IN: CST SU: TNM


JT -- NY098 -- 9485 02/12/92 18:29 EST
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Publication:PR Newswire
Date:Feb 12, 1992
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