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PUBLICKER INDUSTRIES COMPLETES SALE OF AMERICAN CRYOGAS INDUSTRIES FOR $14 MILLION

 GREENWICH, Conn., April 16 /PRNewswire/ -- Publicker Industries Inc. (NYSE: PUL) announced today that it has consummated the sale of substantially all of the assets of its American Cryogas Industries, Inc. (ACI) subsidiary to MG Industries, Inc. for $14 million cash, subject to post closing adjustments, which are not expected to be material. ACI is a producer and distributor of liquid and solid carbon dioxide and related products and equipment. For 1992 ACI had net sales of approximately $14 million. The purchaser is a wholly owned subsidiary of Messer Griesheim GmbH which is part of the Hoechst family of companies.
 Publicker Industries Inc., headquartered in Old Greenwich, is a diversified group of nine companies engaged in manufacturing, distribution and services.
 -0- 4/16/93
 /CONTACT: James J. Weis of Publicker Industries Inc., 203-637-4500, or Peter Rosenthal of Howard J. Rubenstein Associates, 212-489-6900, for Publicker Industries Inc./
 (PUL)


CO: Publicker Industries Inc.; American Cryogas Industries, Inc.;
 MG Industries, Inc. ST: Connecticut IN: SU: TNN


KD-TS -- NY019 -- 6641 04/16/93 09:48 EDT
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Publication:PR Newswire
Date:Apr 16, 1993
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