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CORE INDUSTRIES INC. ANNOUNCES SALE OF DU-AL MANUFACTURING COMPANY

 BLOOMFIELD HILLS, Mich., Sept. 24 /PRNewswire/ -- Core Industries Inc. (NYSE: CRI) today announced the sale of one of its farm equipment divisions, Du-Al Manufacturing Company, to Woods Equipment Company of Oregon, Ill. The terms of the transaction were not disclosed.
 Lawrence J. Murphy, Core's executive vice president, stated: "We believe the proceeds of this sale can be invested more profitably in areas consistent with Core's strategic direction. When we began restructuring the company in March of 1992, our intention was, and remains, to divest operations that do not fit with our future plans and to edeploy -- those resources to operations that can contribute meaningfully to the future success of Core. As part of that strategy, we are searching for acquisitions in line with our strategic growth areas."
 Du-Al manufactures front-end loaders, trenchers and backhoes sold to the cnstruction and farm industries. In recent years, Du-Al's business has been cyclical and does not strategically fit with Core's objectives. Du-Al represents approximately 5 percent of Core's total revenues. However, it is expected that Woods will benefit significantly because of the strategic fit of Du-Al's product line with the Woods' product line and marketing distribution channels.
 Murphy emphasized, "The rest of Core's Farm Equipment Group continues to be profitable and enjoys more established market niches than Du-Al."
 Core Industries Inc. manufactures specialty products for three segments: Electronics, Farm Equipment, and Fluid Control and Construction Products.
 -0- 9/24/93
 /CONTACT: Lawrence J. Murphy, executive vice president of Core Industries Inc., 313-642-3400/
 (CRI)


CO: Core Industries Inc.; Woods Equipment Company;
 Du-Al Manufacturing Company ST: Michigan, Illinois IN: SU: TNM


JG -- DE009 -- 5338 09/24/93 10:18 EDT
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Publication:PR Newswire
Date:Sep 24, 1993
Words:274
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