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KOCH INDUSTRIES BUYS UNITED GAS PIPE LINE; PURCHASE ADDS 9,600 MILE INTERSTATE NATURAL GAS SYSTEM TO KOCH HOLDINGS

 KOCH INDUSTRIES BUYS UNITED GAS PIPE LINE; PURCHASE ADDS 9,600 MILE
 INTERSTATE NATURAL GAS SYSTEM TO KOCH HOLDINGS
 WICHITA, Kan., Nov. 9 /PRNewswire/ -- Koch Industries Inc. announced today that it has purchased all of the stock of United Gas Pipe Line Co., a wholly owned subsidiary of Houston-based United Gas Holding Corp.
 The sale is scheduled to be closed this week. Both companies are privately held and terms of the transaction were not disclosed.
 United Gas Pipe Line owns and operates a 9,600 mile interstate natural gas transmission system strategically located in the Gulf Coast region of the United States. It currently serves 467 communities and has 120 interconnects with other major pipelines that serve the Southeast, East Coast and the Midwest, with annual sales of approximately $370 million.
 Charles Koch, chairman of Koch Industries, said, "United Gas Pipe Line Company has an extensive and historical presence in the Gulf Coast region and has tremendous growth potential. This acquisition creates attractive new opportunities for Koch to gather and market natural gas throughput the Gulf Coast and the expanding Southeastern markets. The expansion of Koch's natural gas business will also allow access to the Northeast and Midwest markets through cooperative relationships with interstate pipelines."
 Alvin Shoemaker, chairman of United Gas Holding, said, "The sale of United successfully completes the financial restructuring process initiated in 1989. We are very pleased about our arrangement with Koch Industries, since Koch provides the financial strength to implement United Gas Pipe Line's business strategy."
 Koch Industries is the second largest privately held company in the United States. It is involved in virtually all phases of the oil and gas industry, as well as in chemicals, chemical technology products, agriculture, hard minerals, real estate and financial investments.
 -0- 11/9/92
 /CONTACT: Riff Yeager of Koch Industries, 316-832-7462/ CO: Koch Industries Inc.; United Gas Pipe Line Co. ST: Kansas, Texas IN: OIL SU: TNM


MC-BB -- DV004 -- 8771 11/09/92 14:04 EST
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Publication:PR Newswire
Date:Nov 9, 1992
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