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MASCO INDUSTRIES RECEIVES $150 MILLION FROM YEAR-END TRANSACTIONS

 MASCO INDUSTRIES RECEIVES $150 MILLION FROM YEAR-END TRANSACTIONS
 TAYLOR, Mich., Jan. 6 /PRNewswire/ -- Masco Industries, Inc. (NASDAQ: MASX) announced today that it has received approximately $150 million cash in two unrelated year-end transactions. The proceeds from these transactions will be used principally to reduce the company's indebtedness.
 Masco Industries received approximately $40 million from the redemption by TriMas Corporation (NASDAQ-NMS: TMAS) of a portion of TriMas' $128 million 14-percent Subordinated Debentures with a 2008 maturity date. In addition, Masco Industries and TriMas exchanged the remaining $88 million of TriMas Debentures held by Masco Industries for new Debentures with a 12-percent interest rate and a 1999 maturity date.
 Masco Industries expects to recognize a gain from this redemption resulting from the prepayment premium paid by TriMas and from the recognition of a portion of a gain deferred at the time of the formation of TriMas. Although the company will realize a gain on this redemption, the company anticipates approximate breakeven earnings for the fourth quarter of 1991 due to the continuing difficult economic environment in its major markets and charges associated with operational restructurings and other adjustments.
 In the second transaction, Masco Industries received distributions and loan repayments from Masco Capital Corporation and then sold its 50-percent interest in Masco Capital Corporation to the other stockholder, Masco Corporation (NYSE: MAS), at Masco Industries' approximate carrying cost.
 Masco Industries manufactures custom engineered and other commercial and specialty industrial products.
 -0- 1/6/92
 /CONTACT: Kenneth J. Zak of Masco Industries, 313-274-7400, Ext. 386/
 (MASX TMAS MAS) CO: Masco Industries, Inc.; TriMas Corporation; Masco Corporation ST: Michigan IN: SU:


SB -- DE020 -- 6895 01/06/92 12:01 EST
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Publication:PR Newswire
Date:Jan 6, 1992
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