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FARREL CORPORATION PRICES INITIAL PUBLIC OFFERING OF COMMON STOCK

   FARREL CORPORATION PRICES INITIAL PUBLIC OFFERING OF COMMON STOCK
    ANSONIA, Conn., Jan. 17 /PRNewswire/ -- Farrel Corporation (NASDAQ: FARL) announced an initial public offering of 2,000,000 shares of common stock at a price of $9.50 per share.  The common stock will trade on NASDAQ National Market System under the symbol "FARL".  All of the shares were sold by the company.  PaineWebber Incorporated and First Albany Corporation managed the offering.  First Funding Corporation acted as financial adviser to the company.
    Farrel Corporation designs, manufactures, sells and services capital
equipment used to process rubber and plastics materials.   The company's principal products are BANBURY Mixers, continuous mixers, extruders, compact processors, pelletizers, gear pumps, calenders and mills.  In conjunction with sales of capital equipment, the company provides process engineering, process design and related services for rubber and plastics processing systems.  The company's aftermarket business consists primarily of repair, refurbishment and equipment upgrade services, spare parts sales and field services.  The company also provides laboratory services and facilities for product demonstrations and for the development and testing of rubber and plastics equipment and processes.
    The company intends to use the net proceeds of the offering to upgrade and expand company facilities, to acquire new machinery and additional facilities, establish research and development facilities, repay indebtedness relating to the acquisition of 1,483,870 shares of common stock, working capital and other general corporate purposes
    Copies of the prospectus may be obtained form PaineWebber Incorporated, 1285 Avenue of the Americas, New York, N.Y., 10019 by contacting David H. Holmes at 212-713-3040.
    -0-        1/17/92
    /CONTACT:  Charles S. Jones of First Funding Corporation, 203-324-2626/
    (FARL) CO:  Farrel Corporation ST:  Connecticut IN: SU:  OFR SM -- NY049 -- 1050 01/17/92 14:23 EST
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Publication:PR Newswire
Date:Jan 17, 1992
Words:289
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