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INDRESCO ANNOUNCES 15 PERCENT STOCK BUY-BACK PROGRAM

 DALLAS, Aug. 18 /PRNewswire/ -- INDRESCO Inc. (NYSE: ID) announced today that its board of directors had approved a plan to repurchase up to 4.1 million shares of its common stock, representing about 15 percent of its outstanding shares. The shares will be purchased in the open market and through privately negotiated transactions from time-to-time according to market conditions.
 Ralph W. Ytterberg, chairman and chief executive officer said "the purpose of the stock buy-back is to enhance shareowner value." He said that the company "plans to utilize its balance sheet strength to broaden and strengthen its current portfolio of businesses, particularly those having strong positions in serving basic industrial markets."
 The company said the shares repurchased would be held in the Treasury for possible use in acquisitions, benefit plans, and for other corporate purposes.
 INDRESCO consists of the former Industrial Products and Equipment businesses of Dresser Industries, Inc., spun off to shareowners in August, 1992. Its operations are classified into three segments: Minerals & Refractory Products, Air Equipment, and Mining Equipment.
 -0- 8/18/93
 /CONTACT: Gene E. Leeson of INDRESCO Inc., 214-953-4505/
 (ID)


CO: INDRESCO Inc. ST: Texas IN: MNG SU:

SM -- NY077 -- 4041 08/18/93 16:20 EDT
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Publication:PR Newswire
Date:Aug 18, 1993
Words:200
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