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ALLIS-CHALMERS CORPORATION NAMES TESSLER AS CHAIRMAN OF BOARD AND CEO

 MILWAUKEE, Nov. 17 /PRNewswire/ -- Allis-Chalmers Corporation today announced that its Board of Directors elected Allan R. Tessler, a director of the company, as its Chairman of the Board and Chief Executive Officer, succeeding Robert E. Nederlander in those capacities.
 Tessler, an attorney, is a partner in AL-CH Company, L.P., a limited partnership, which holds approximately 40 percent of the common stock of Allis-Chalmers. Tessler also serves as Chairman and Chief Executive officer of International Financial Group, Inc., Co-CEO of Data Broadcasting Corporation and Chairman of Enhance Financial Services Group, Inc. In addition, Tessler is a director of The Limited, Inc. and Jackpot Enterprises.
 Nederlander, Chairman and Chief Executive Officer since May 1989, stated that his resignation was due to the excessive demand on his time from other business interests. Nederlander, who remains a director of the company, was elected a Vice Chairman and will continue to serve on the Executive Committee of the Board of Directors.
 Allis-Chalmers Corporation emerged from Chapter 11 bankruptcy on Oct. 31, 1988 under a plan of reorganization approved by creditors and shareholders. Today, the company has two operating units: B.R.B. Industries which manufactures and sells molded fabric products for the apparel market and Houston Dynamic Service, Inc. which services and repairs industrial equipment.
 -0- 11/17/93
 /CONTACT: Robert M. Qualls of Allis-Chalmers, 414-475-3552/


CO: Allis-Chalmers Corporation ST: Wisconsin IN: SU: PER

LG-MP -- NY083 -- 5579 11/17/93 14:46 EST
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Publication:PR Newswire
Date:Nov 17, 1993
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