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ARMCO FILES MERGER REGISTRATION STATEMENT

 ARMCO FILES MERGER REGISTRATION STATEMENT
 PARSIPPANY, N.J., Nov. 26 /PRNewswire/ -- Armco Inc. (NYSE: AS)


today announced that it has filed a registration statement with the Securities and Exchange Commission covering the shares of Armco common stock issuable in connection with the proposed merger of Cyclops Industries, Inc. (NYSE: CYC) with a wholly owned subsidiary of Armco.
 In September, the two companies signed a definitive agreement for the merger, under which Armco will pay $22 a share, $11 in cash and the balance in Armco common stock, for each of the 7.2 million outstanding shares of Cyclops common stock.
 Any offering of such shares of Armco common stock may be made only by means of the definitive joint proxy statement/prospectus to be mailed to shareholders of Armco and Cyclops in connection with the merger.
 Armco and Cyclops said that the transaction requires clearance by governmental authorities, establishing new credit facilities for ongoing businesses and approval of the shareholders of both companies. They said they hope to complete the transaction before the end of January 1992.
 -0- 11/26/91
 /CONTACT: Lee Bland of Armco, 201-316-5266/
 (AS CYC) CO: Armco Inc.; Cyclops Industries, Inc. ST: New Jersey, Pennsylvania IN: MNG SU: TNM


JT -- NY075 -- 7459 11/26/91 16:03 EST
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Publication:PR Newswire
Date:Nov 26, 1991
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