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BAROID CORPORATION TO ACQUIRE BENTONITE MINING BUSINESS

 HOUSTON, June 7 /PRNewswire/ -- Baroid Corporation (NYSE: BRC) announced today that it has signed a letter of intent to acquire the bentonite mining business of Bentonite Corporation from Tremont Corporation for $20 million in cash. The transaction is subject to, among other things, due diligence, regulatory approvals and approval by the board of directors of both Baroid and Tremont, and is expected to close by the end of June.
 Bentonite Corporation is engaged in the mining and processing of Wyoming bentonite which is used in oil and gas well drilling fluids as well as other industrial applications. The company's extensive reserves of exceptionally high quality bentonite are located in Wyoming and Montana.
 Baroid Corporation is a worldwide supplier of oilfield services and products.
 -0- 6/7/93
 /CONTACT: Robert P. Wallace of Baroid Corporation, 713-987-5186/
 (BRC)


CO: Baroid Corporation ST: Texas, Wyoming, Montana IN: OIL SU: TNM

WB-LR -- NY015 -- 5836 06/07/93 09:03 EDT
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Publication:PR Newswire
Date:Jun 7, 1993
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