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WITCO ACQUIRES TWO EUROPEAN DIVISIONS OF SCHERING AG

 WITCO ACQUIRES TWO EUROPEAN DIVISIONS OF SCHERING AG
 NEW YORK, Nov. 2 /PRNewswire/ -- Witco Corporation (NYSE: WIT) today


acquired the Industrial Chemicals and Natural Substances divisions of Schering AG Germany for DM 660 million (approximately US$440 million) in cash.
 The purchase, whose U.S. closing took place today in New York City, "represents a major step in broadening Witco's international presence," said Witco Chairman and Chief Executive Officer William R. Toller.
 He added that the purchase more than doubles Witco's international revenues. The company has established offices in Frankfurt, Germany to administer its European operations.
 Schering AG Germany's Industrial Chemicals Division had worldwide sales in 1991 of $303 million with over 800 people at a main production site in Bergkamen, Germany and at other plants in the United States, France and Italy.
 The Natural Substances Division had sales of $292 million last year and 1,000 employees in Steinau, Germany, Mapleton, Ill., and Janesville, Wis., as well as the United Kingdom, Spain and Ecuador.
 The purchase brings Witco's total work force to over 8,700 with 65 manufacturing sites around the world.
 Witco manufactures diverse specialty chemical and petroleum products and engineered materials. The corporation had revenues of over $1.6 billion and income of more than $73 million in 1991.
 -0- 11/2/92
 /CONTACT: C.R. Soderlind, group vice president, 212-605-3813, or S.L. Levy, manager-public relations, 212-605-3815, both of Witco Corporation/
 (WIT) CO: Witco Corporation; Schering AG ST: New York IN: CHM SU: TNM


CK-TS -- NY058 -- 1625 11/02/92 12:49 EST
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Publication:PR Newswire
Date:Nov 2, 1992
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