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ARCADIAN CORPORATION REACHES SETTLEMENT IN PENDING LITIGATION WITH THERMEX ENERGY CORPORATION

 MEMPHIS, Tenn., Dec. 3 /PRNewswire/ -- Arcadian Corporation reported today that it has reached a settlement with Thermex Energy Corporation of an antitrust lawsuit brought by Thermex. Thermex instituted the lawsuit on March 13, 1992, against Atlas Power Co., LaRoche Industries, Inc., IRECO Incorporated, Van Amburgh Alamo, Inc., and Arcadian.
 Doug Campbell, President and Chief Executive Officer of Arcadian Corporation, stated, "Arcadian's settlement of the lawsuit, which includes a minimal cash payment, in no way suggests that we participated in any illegal or improper activities regarding Thermex. The settlement with Thermex will enable us to avoid additional litigation costs and uncertainties associated with the lawsuit."
 Arcadian Corporation is the general partner of Arcadian Partners, L.P. (NYSE: UAN), a leading United States producer and worldwide marketer of nitrogen-based fertilizers and related products.
 -0- 12/3/93
 /CONTACT: Deborah A. Howard, Manager of Investor Relations, Arcadian Corporation, 901-758-5366/
 (UAN)


CO: Arcadian Corporation; Thermex Energy Corporation ST: Tennessee IN: CHM AGR ENV SU:

JM -- CH005 -- 0320 12/03/93 15:24 EST
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Publication:PR Newswire
Date:Dec 3, 1993
Words:169
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