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BARTON INDUSTRIES ANNOUNCES CLOSING OF COMMON STOCK RIGHTS OFFERING

 BARTON INDUSTRIES ANNOUNCES CLOSING OF COMMON STOCK RIGHTS OFFERING
 SHAWNEE, Okla., April 28 /PRNewswire/ -- Barton Industries, Inc. announces the closing of their common stock Rights Offering on April 9, 1992. The company's existing shareholders exercised their right under the company's reorganization plan to buy a total of 4,134,727 shares of common stock, which represented a total of 81 percent of the stock available for sale. The net proceeds of approximately $620,000 will be used to meet working capital requirements.
 The company also recently elected Robert A. Carlson as president and chief operating officer of the company. Paul G. Brostrom remains as chairman of the board and chief executive officer.
 Larry Kalka, chief financial officer, was elected treasurer and assistant secretary. Don Nawotka was elected controller and assistant secretary. Serving on the board of directors are Brostrom and Carlson, Don Cook, Ken Hungerford and William Cavanaugh.
 Barton manufactures valves for the oil and gas industry, as well as the geothermal energy industry. In addition, the company produces state-of-the-art industrial and energy automation equipment which it sells for use on oil and gas wells, gas distribution systems, transmission lines, and other industrial applications.
 -0- 4/28/92
 /CONTACT: Janet Golay of Barton Industries, 405-273-7660/ CO: Barton Industries Inc. ST: Oklahoma IN: OIL SU:


SH -- NY115 -- 3946 04/28/92 15:25 EDT
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Publication:PR Newswire
Date:Apr 28, 1992
Words:223
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