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DEXTER INCREASES ITS POSITION IN THE AUTOMOTIVE MARKET

 WINDSOR LOCKS, Conn., Sept. 23 /PRNewswire/ -- To strengthen its strategic position in the automotive interior coatings market, The Dexter Corporation (NYSE: DEX), a leading worldwide specialty materials manufacturer, announced today it has signed letters of intent for the purchase of the automotive coatings businesses of both Service Coatings, Inc. of Harvey, Illinois and Potter Paint Company of Cambridge City, Indiana and Brownsville, Texas.
 Consummation of the proposed purchases are subject to a number of conditions including the execution of mutually satisfactory purchase and sale agreements.
 In making this announcement, K. Grahame Walker, Chairman, President and Chief Executive Officer, The Dexter Corporation said: "Both acquisitions, which are expected to close around year end, represent strong and complementary strategic fits for Dexter in the interior coatings served market segment and provide compliant technology to strengthen our position in the marketplace." Walker also said when the Service and Potter businesses are integrated into our existing automotive coatings business at Waukegan, Illinois, they will provide Dexter with the water-based technology, OEM approvals and critical mass to position the company as one of the top four U.S. suppliers of automotive interior coatings.
 Both Service Coatings and Potter Paint will operate as part of Dexter Automotive Materials Division. The division currently supplies Sicon(R) and SoftDex(TM) liquid coatings for high-temperature, automotive applications as well as tactile interior coatings and high- performance clearcoats. The division is also a major supplier of acoustic materials designed to improve the quality of an automobile or truck through the reduction of noise and Hysol(R) two-component epoxy adhesives for general assembly and interior trim bonding. D&S Plastics International, a joint venture in which Dexter holds a 50 percent equity interest, supplies engineered polyolefin materials for front and rear bumper fascias and many other automotive applications.
 The Dexter Corporation is a Fortune 500 company producing specialty materials to customers in five strategic global markets: aerospace, automotive, electronics, food packaging, and medical. Founded in 1767, Dexter is the oldest company listed on the New York Stock Exchange. Consolidated net sales and earnings for 1992 were $951.4 million and $38.2 million, respectively.
 -0- 9/23/93
 /CONTACT: T. Daniel Clark of Dexter, 203-292-7610/
 (DEX)


CO: Dexter Corporation; Service Coatings, Inc.; Potter Paint Company ST: Connecticut, Texas, Indiana, Illinois IN: AUT SU: TNM

LG -- NY056 -- 5253 09/23/93 13:43 EDT
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Publication:PR Newswire
Date:Sep 23, 1993
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