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SELAS RECEIVES $35 MILLION ORDER FOR TURKISH STEEL PLANT ANNEALING LINE

SELAS RECEIVES $35 MILLION ORDER FOR TURKISH STEEL PLANT ANNEALING LINE
 DRESHER, Pa., March 19 /PRNewswire/ -- Selas Corporation of America (AMEX: SLS) announced today that the consortium, of which it is a member, has received an order, subject to finalization of financing by the Export-Import Bank of Japan, to supply a continuous annealing line to Eregli Iron and Steel Works Inc. (Erdermir), Eregli, Turkey.
 Stephen F. Ryan, president and chief executive officer of Selas, said that his company's portion of the order is valued in excess of 196 million French francs ($35 million).
 Selas competed for the contract as a member of a consortium headed as prime contractor by Marubeni Corporation of Japan. Other members of the consortium are NKK Corporation, Japan; MDS Mannesmann Demag Sack GmbH, Germany; and Mitsubishi Electric Corporation, Japan. Selas will execute its portion of the project though its subsidiary, Selas S.A. in France, Ryan said.
 Erdermir is the only flat rolled steel producer in Turkey and occupies approximately four square km on the Black Sea coast. Present annual capacity of the facility is 2 million tons, but its goal is to attain 3 million tons/year by 1994.
 Ryan said the Selas portion of the project is expected to take 47 months from engineering to completion and that the impact on earnings would begin in the second half of the year.
 Selas Corporation of America is an international design, development, engineering and manufacturing company.
 /delval/
 -0- 3/19/92
 /CONTACT: Stephen F. Ryan, president and CEO of Selas, 215-283-8402/
 (SLS) CO: Selas Corporation of America; Eregli Iron and Steel Works Inc. ST: Pennsylvania IN: SU: CON


MP-KA -- PH032 -- 9815 03/19/92 16:01 EST
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Publication:PR Newswire
Date:Mar 19, 1992
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