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KETEMA ANNOUNCES INTENT TO DIVEST ITS ALUMINUM EXTRUSION DIVISION

 DENVER, Aug. 23 /PRNewswire/ -- Ketema Inc. (AMEX: KTM) announced that it has reached an agreement in principle with Columbia Aluminum Corp. regarding the purchase by Columbia of Ketema's Aluminum Extrusion Division. Consummation of the transaction is subject to completion of a definitive agreement and the approval of the respective boards of directors of both Ketema and Columbia.
 The sale price, expected to be approximately $10 million, is comprised principally of a Seller financed short-term note and a combination of cash and 190,900 shares of Ketema common stock (which is currently held by Columbia). The sales price, net of divestiture expenses, is anticipated to be approximately equal to book value.
 Ketema, with headquarters in Denver, is a diversified, multi-product manufacturer which develops, designs, manufactures and markets, domestically and internationally, a wide group of products for industrial and commercial markets. The company consists of three business groups -- Process, Aerospace, and Industrial, and a platform for emerging technology companies.
 -0- 8/23/93
 /CONTACT: Robert L. Tomz of Ketema, 303-329-7193/
 (KTM)


CO: Ketema Inc.; Columbia Aluminum Corp. ST: Colorado IN: ARO SU:

MC -- DV002 -- 4999 08/23/93 11:02 EDT
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Publication:PR Newswire
Date:Aug 23, 1993
Words:189
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