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AMERICAN PACIFIC ANNOUNCES DISMISSAL OF LAWSUIT

 LAS VEGAS, July 8 /PRNewswire/ -- American Pacific Corp. (NASDAQ: APFC) announced today that Thiokol Corp. has dismissed, without prejudice, its declaratory relief lawsuit against the company's Western Electrochemical Co. ("WECCO") subsidiary. A dismissal "without prejudice" operates as a dismissal of the lawsuit, but does not prevent its re-filing at a later date, nor does it constitute a final resolution of the dispute. According to a "Stand Still Agreement" between the parties, "... Thiokol dismissed its lawsuit without prejudice in an effort to resolve the disputes among the parties." The principal terms of the Stand Still Agreement are: 1) Thiokol dismissed its lawsuit without prejudice; 2) Thiokol may not re-file its action nor commence a new action against WECCO without first giving WECCO five days notice of its intent to do so and WECCO may not file an action against Thiokol without first giving Thiokol 20 days notice of its intent to do so; and 3) any such litigation must be filed only in state or federal court in Salt Lake City.
 The company emphasized that it will make every effort to reach a commercial resolution of its dispute with Thiokol compatible with the interests of the company and its shareholders.
 American Pacific's principal business activities consist of the production of chlorate and perchlorate chemicals, including chiefly ammonium perchlorate, the oxidizer utilized in composite solid rocket propellants employed in a large number of space and military systems; the design and manufacture of environmental protection products; and industrial and commercial real estate development. The company is also at the forefront of two developing specialty chemical markets: The manufacture of sodium azide, principally used in automotive airbag systems and the production of Halotron I and II as replacements for ozone-depleting halons in fire extinguishment systems worldwide.
 -0- 7/8/93
 /CONTACT: Scott A. Brooks, director of investor relations of American Pacific, 702-735-2200/
 (APFC)


CO: American Pacific Corp.; Thiokol Corp.; Western Electrochemical Co. ST: Nevada IN: CHM SU:

MF-JL -- LA018 -- 9366 07/08/93 09:09 EDT
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Publication:PR Newswire
Date:Jul 8, 1993
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