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MASCOTECH, INC. ANNOUNCES RECORD THIRD-QUARTER SALES AND IMPROVED THIRD-QUARTER RESULTS

 TAYLOR, Mich., Nov. 3 /PRNewswire/ -- Sales in the third quarter ended Sept. 30, 1993, were the highest for any third quarter in the history of MascoTech (NYSE: MSX). Sales approximated $425 million, an increase of 5 percent over the comparable period in 1992.
 Sales of transportation-related products for the quarter increased 6 percent, benefiting from higher levels of automotive production. Sales of specialty products increased 2 percent, primarily as a result of an 8-percent increase in energy-related products sales.
 Net income in the third quarter of 1993, after preferred stock dividends, increased 35 percent to $9.9 million or $.18 per common share, compared with $7.3 million or $.12 per common share in the comparable period in 1992.
 Third-quarter 1993 earnings additionally benefited from increased equity earnings interest income and realized gains on marketable securities, partially offset by increased interest expense, as compared with the comparable period in 1992. Third-quarter 1993 earnings were reduced by a charge of approximately $.04 per common share reflecting the recently increased 1993 federal corporate income tax rate; of this amount, approximately $.03 per common share was a one-time charge related to adjusting deferred tax balances as of Dec. 31, 1992, for this higher income tax rate.
 The company's improved third-quarter performance includes the benefits of a modestly improving economy combined with the contribution from cost rationalization and growth initiatives that were undertaken. The company's strongest product and technology positions, when combined with the anticipated further improvement in automotive production and the economy in general, should continue to have a positive impact on its business for the reminder of 1993, and the company believes should result in record sales and earnings in 1994.
 MascoTech manufactures transportation-related and other commercial and specialty industrial products.
 MASCOTECH, INC.
 Three Months Ended Nine Months Ended
 Sept. 30 Sept. 30
 1993 1992 1993 1992
 Net sales $425,450 $406,280 $1,344,120 $1,225,650
 Cost of sales (333,290) (318,330) (1,053,250) (963,540)
 Selling, general
 and administrative
 expenses (57,520) (57,190) (174,240) (174,330)
 Operating profit 34,640 30,760 116,630 87,780
 Other expense, net (5,710) (13,450) (19,900) (33,340)
 Income before income
 taxes 28,930 17,310 96,730 54,440
 Income taxes 13,610 7,670 42,150 24,490
 Net income $15,320 $9,640 $54,580 $29,950
 Preferred stock
 dividends $5,420 $2,330 $10,250 $6,980
 Earnings attributable
 to common stock $9,900 $7,310 $44,330 $22,970
 Earnings per common
 share:
 Primary $.18 $.12 $.78 $.38
 Fully diluted(A) $.18 $.12 $.73 $.38
 Average common shares
 and equivalents
 outstanding --- --- 56,930 60,640
 The three months and the nine months ended Sept. 30, 1993, include a charge of approximately $.04 per common share related to the recent federal corporate income tax rate increase.
 Prior period data have been reclassified to conform with calendar 1992 presentation.
 Amounts in thousands except per-share data.
 (A) Fully diluted common shares were 67.9 million for the nine months ended Sept. 30, 1993, based on the assumed conversion of dilutive securities, including warrants to purchase common stock (issued March 31, 1993); dilutive securities were dilutive in 1993 and anti- dilutive in 1992.
 -0- 11/3/93
 /CONTACT: Kenneth J. Zak, manager-investor relations of MascoTech, 313-274-7400, Ext. 6386/
 (MSX)


CO: MascoTech, Inc. ST: Michigan IN: SU: ERN

ML-KR -- DE008 -- 9992 11/03/93 09:04 EST
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Date:Nov 3, 1993
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