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GREAT LAKES ANNOUNCES ACQUISITION OF HUNGARIAN CHEMICAL TRADING COMPANY

 GREAT LAKES ANNOUNCES ACQUISITION
 OF HUNGARIAN CHEMICAL TRADING COMPANY
 WEST LAFAYETTE, Ind., Aug. 27 /PRNewswire/ -- Great Lakes Chemical Corporation (NYSE: GLK) today announced it has reached an agreement in principle to acquire 75 percent of Chemol RT, the former state-owned chemical trading company of Hungary. A final agreement should be completed within the next 30 days.
 Emerson Kampen, chairman, president and chief executive officer of Great Lakes, pointed out, "We have long recognized the European marketplace as a key to our future growth strategies. The acquisition of Chemol unlocks the door to reaching an even larger part of Central and Eastern Europe. Chemol also provides effective distribution of products necessary to complement our recent moves expanding the company's manufacturing operations in the United Kingdom and Germany."
 Headquartered in Budapest, the company utilizes an extensive sales force coupled with a network of subsidiaries, joint ventures and 40 strategically located warehouses, to import and export chemical products. These products range from inorganic, organic and petrochemicals to plastics and finished agrochemicals. The company currently employs 200.
 Kampen concluded, "In addition to the near-term benefits, Chemol also allows for Great Lakes to establish an important foothold in Eastern Europe for the company's other operations. We anticipate significant opportunities in this part of the world for our environmental remediation activities, our clear drilling fluids business, and our furfural specialty chemicals, to name only a few. We intend to conclude the formalities necessary to consummating the purchase as quickly as possible in order to begin taking full advantage of the multitude of growth prospects."
 Great Lakes Chemical Corporation, a Fortune 500 company, is the world's leading producer of bromine, brominated chemicals and furfural derivatives for such applications as flame retardants, agriculture, oil and gas well completion fluids, water sanitizers and other specialty applications. The stock of the company is traded on the New York Stock Exchange.
 -0- 8/27/92
 /CONTACT: David R. Bouchard or Gregory J. Griffith, both of Great Lakes Chemical Corporation, 317-497-6100/
 (GLK) CO: Great Lakes Chemical Corporation ST: Indiana IN: CHM SU: TNM


KK -- CL003 -- 3856 08/27/92 10:17 EDT
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Publication:PR Newswire
Date:Aug 27, 1992
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