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ARMCO FILES REGISTRATION

 ARMCO FILES REGISTRATION
 PARSIPPANY, N.J., July 2 /PRNewswire/ -- Armco Inc. (NYSE: AS)


announced today it has filed a shelf registration with the Securities and Exchange Commission that would permit Armco to issue up to $135 million of additional shares of its Class A preferred stock as timing and circumstances dictate.
 Armco said that proceeds from any offering would be used to help implement its previously announced strategy of focusing the company's primary efforts on specialty steels and for general corporate purposes, including the possible reduction of existing indebtedness.
 "The capital resulting from this action will assist us in achieving our ultimate objective, which is to become the leading domestic producer of stainless and electrical steels," said Robert L. Purdum, Armco's chairman and chief executive officer. "We will accelerate our efforts to improve our liquidity position through planned sales of non-strategic assets," he said.
 Armco, the second largest domestic manufacturer of stainless steels, also produces electrical and carbon steels and steel products, non- residential construction products and tubular goods. Through joint ventures, Armco produces coated high-strength low-carbon flat-rolled steels and oilfield machinery and equipment.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 7/2/92
 /CONTACT: Lee Bland, 201-316-5266 or James A. Herzog, 201-316-5276, both of Armco/
 (AS) CO: Armco Inc. ST: New Jersey IN: MNG SU: OFR


AH -- NY072 -- 6349 07/02/92 16:59 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jul 2, 1992
Words:316
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