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ARMCO STEEL COMPANY COMPLETES SALE OF TUBING OPERATIONS

 MIDDLETOWN, Ohio, March 3 /PRNewswire/ -- Armco Steel Company (ASC) today announced it has completed the sale of its mechanical tubing operation to Middletown Tube Works, Inc. Middletown Tube Works, Inc. is a privately held company owned by Ralph H. Phillips.
 "We are delighted that we have completed this acquisition and are continuing with full production," said Middletown Tube Works owner Ralph Phillips. "We are pleased to be Middletown's newest corporate citizen and optimistic about continuing a long tradition of quality tube production."
 Phillips said his company is continuing uninterrupted operation of the plant with existing employees. All Armco Steel Company employees who were assigned to the tubing operation at the time of the sale have been offered employment under previously existing terms and conditions with the new company.
 In addition, hourly employees of Middletown Tube Works, Inc. continue to be represented by the Armco Employees Independent Federation. Hourly ASC employees not accepting employment with Middletown Tube Works may transfer for a period of time to available jobs within ASC's Middletown Works.
 As previously announced, ASC had been seeking a buyer since last year for the operation, which makes small diameter round, square and rectangular steel tubing, in order to concentrate on its core flat- rolled carbon steel business.
 The operation in Middletown has an annual capacity of 120 million linear feet, or approximately 35,000 tons. The facility produces welded tube in sizes ranging from one-half inch to three inch dimensions. Markets include recreational products such as bicycle frames and exercise equipment in addition to heating and air conditioning applications.
 In addition to Middletown Tube Works Inc., Phillips owns two other mechanical tubing facilities. Shelby Welded Tube, Shelby, Ohio, employs about 90 workers in the production of small diameter tubing. Dothan Tubular Products, Inc., Dothan, Ala., employs about 15 people producing similar products.
 Armco Steel Company is a 50/50 joint venture between Armco Inc. (NYSE: AS), Parsippany, N.J. and Kawasaki Steel Corporation, Tokyo, Japan. ASC produces carbon flat-rolled steels for automotive, appliance, construction and manufacturing markets. ASC employs about 7,200 men and women in plants and offices in Middletown and Ashland, Ky.
 -0- 3/3/93
 /NOTE TO EDITORS: Armco Steel Company's former tubing operation is not affiliated in any way with other tubing operations in Ohio and Pennsylvania owned and operated by Armco Steel Company partner firm Armco Inc./
 /CONTACT: Alan H. McCoy of Armco Steel Company, 513-425-2826; or Ralph H. Phillips of Middletown Tube Works, 513-425-3726/
 (AS)


CO: Armco Steel Company ST: Ohio IN: MNG SU:

BM -- CL009 -- 2537 03/03/93 14:23 EST
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Publication:PR Newswire
Date:Mar 3, 1993
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