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IMO SELLS ITS BARKSDALE DIVISION TO MARK CONTROLS

 LAWRENCEVILLE, N.J., Oct. 29 /PRNewswire/ -- Imo Industries Inc. (NYSE: IMD) and Mark Controls Corporation have entered into a definitive agreement for Mark Controls to acquire the Barksdale Controls business of Imo for approximately $28.6 million in cash.
 Closing of the sale is expected to occur by mid-December. Closing is dependent on Hart-Scott-Rodino approval and the purchaser's financing.
 The sale is part of Imo's previously announced asset divestiture and debt reduction programs. In the third quarter, Imo reduced its debt by $57.7 million, or 12 percent, thereby fulfilling its 1993 commitment ahead of schedule. This sale will help assure timely completion of the next phase of Imo's debt reduction of approximately $35 million due by March 31, 1994.
 Barksdale, located in Los Angeles, Calif., and Reichelsheim, Germany, designs and manufactures directional control valves, pressure and temperature switches, and pressure transducers. Barksdale revenue in 1992 was $30 million.
 Mark Controls Corporation, headquartered in Skokie, Ill., manufactures, sells and services a broad line of industrial and commercial equipment primarily used in flow control applications.
 Imo, with 1992 sales of $928 million, supplies analytical and optical instruments, electronic and mechanical controls, engineered power products and their support services to industrial and defense customers worldwide.
 /delval/
 -0- 10/29/93
 /CONTACT: Paul B. Lazovick, director of Investor Relations for Imo Industries, 609-896-7615/
 (IMD)


CO: Imo Industries Inc.; Mark Controls Corporation; Barksdale Controls ST: New Jersey, California IN: SU: TNM

MP -- PH005 -- 8385 10/29/93 09:38 EDT
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Publication:PR Newswire
Date:Oct 29, 1993
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