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HARNISCHFEGER SEES DIFFICULT YEAR FOR 1993

 MILWAUKEE, Jan. 13 /PRNewswire/ -- Harnischfeger Industries, Inc.'s (NYSE: HPH) earnings for the first half of fiscal 1993 could be "less than half of comparable earnings last year," according to Jeffery T. Grade, president and chief executive officer. Grade said that "after reviewing the results for November and December, the first two months of our fiscal year, we thought it appropriate to further advise our shareholders and the investing community that 1993 will be a difficult year."
 Grade said that "street estimates of $1.50 to $1.60 per share for the year are too optimistic. Our own estimates are 20 percent to 30 percent lower. On the other hand, our outlook for 1994 is for a much improved year as we anticipate substantially stronger orders for our Beloit paper machinery operations during the latter half of 1993."
 At the beginning of fiscal year 1993, Beloit had a backlog of orders totaling $444.4 million, the lowest level since Harnischfeger Industries acquired the company in 1986. Grade said that improvement, while anticipated later this year, will not significantly impact earnings positively until 1994 because of the long lead times involved in the products.
 Grade said that the markets for the company's other businesses are expected to remain stable. These include mining, material handling equipment and systems integration services.
 Harnischfeger Industries is a diversified international holding company that operates four subsidiaries involved in: papermaking machinery manufacturing (Beloit Corporation); surface mining and overhead material handling equipment manufacturing (Harnischfeger Corporation); and systems of integration services (Harnischfeger Engineers, Inc. and Syscon Corporation).
 -0- 1/13/93
 /CONTACT: Francis M. Corby Jr., senior vice president-finance and chief financial officer of Harnischfeger Industries, 414-797-6518/
 (HPH)


CO: Harnischfeger Industries, Inc. ST: Wisconsin IN: SU:

AH-GK -- NY052 -- 4500 01/13/93 14:40 EST
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Publication:PR Newswire
Date:Jan 13, 1993
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