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BARRINGER LABORATORIES ANNOUNCES SALE OF ITS CANADIAN SUBSIDIARY

 BARRINGER LABORATORIES ANNOUNCES SALE OF ITS CANADIAN SUBSIDIARY
 GOLDEN, Colo., May 20 /PRNewswire/ -- Barringer Laboratories, Inc. (NASDAQ: BALB) today announced that it has signed a contract for the sale of its Canadian subsidiary, Barringer Laboratories, Ltd., to Philip Environmental Inc. of Hamilton, Ontario.
 The transaction is expected to close on or about June 1, 1992.
 The proceeds of approximately Cdn $2,300,000 will be used to repay the indebtedness due to Royal Trust of Cdn. $2 million with the balance, after costs, added to working capital.
 Barringer Laboratories estimates that it will recognize a gain on the transaction of approximately $1 million.
 Barringer Laboratories, Inc. provides environmental analytical testing services for waste management, hydrocarbon, nuclear, and mining industries and assay/geochemical testing services for the mining industries.
 -0- 5/20/92
 /CONTACT: Robert Walker, CEO, 303-277-1687, or Stanley Binder of CFO, 908-561-6000, both of Barringer Laboratories/
 (BALB) CO: Barringer Laboratories, Inc.; Philip Environmental Inc. ST: Colorado, Ontario IN: SU:


SH-OS -- NY085 -- 2429 05/20/92 15:39 EDT
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Publication:PR Newswire
Date:May 20, 1992
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