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INDRESCO ANNOUNCES J.L. JACKSON TO BE NAMED VICE CHAIRMAN OF THE BOARD AND CHIEF EXECUTIVE OFFICER

 DALLAS, Oct. 13 /PRNewswire/ -- INDRESCO Inc. (NYSE: ID) today announced that J.L. Jackson, an outside director, has been named vice chairman of the board and chief executive officer, effective immediately.
 Jackson will replace Chairman R.W. Ytterberg, age 66, who plans to retire at the end of the year. Ytterberg, the company's original chairman and CEO was asked by the board to extend his active service beyond the normal retirement age of 65 to direct the spin-off of Dresser Industries industrial businesses into INDRESCO in 1992, restructure the company's operations to improve investment returns, and establish a strategic framework to enhance long-term shareholder value.
 In commenting on his forthcoming retirement, Ytterberg said that he had completed most of his original objectives and that "the major task ahead is to use INDRESO's strong balance sheet to add appropriate acquisitions to maximize cash flow and shareholder return."
 Jackson, age 61, is an engineer by profession and has had a distinguished business career of over 35 years. He served as president, chief operating officer, and director of Diamond Shamrock Corporation from 1983 to 1987, a petroleum company with sales in excess of $4 billion. Additionally, he has served in leadership positions in numerous community and industry organizations.
 In commenting on his appointment, Jackson stated that "the many tough decisions made by Ytterberg since the company was founded in combination with INDRESCO's excellent management team and exceptionally strong financial condition portend well for the future."
 Y.N. Sharif will continue ad president and chief operating officer and will report to Jackson.
 INDRESCO, headquartered in Dallas, is a major supplier of surface and underground mining equipment, refractories for high-temperature processes, and specialized air tools. INDRESCO's 1992 consolidated revenues totaled $559 million.
 -0- 10/13/93
 /CONTACT: Gene E. Leeson of INDRESCO, 214-953-4505/
 (ID)


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

CK -- NY080 -- 1763 10/13/93 14:26 EDT
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Publication:PR Newswire
Date:Oct 13, 1993
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