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GREAT LAKES COMPLETES ACQUISITION OF HUNGARIAN CHEMICAL TRADING COMPANY

 GREAT LAKES COMPLETES ACQUISITION
 OF HUNGARIAN CHEMICAL TRADING COMPANY
 WEST LAFAYETTE, Ind., Sept. 21 /PRNewswsire/ -- Emerson Kampen, chairman, president and chief executive officer of Great Lakes Chemical Corporation (NYSE: GLK), today announced that the company has completed the acquisition of 75 percent of Chemol RT, the former state-owned chemical trading company of Hungary, for approximately $9 million.
 Kampen commented, "This company clearly satisfies our long-term objectives for growing Great Lakes' interests worldwide. As a result of this move, we have significantly broadened our global presence to include important Central and Eastern European markets. Chemol provides an effective means of distributing a wide range of Great Lakes' products manufactured both in Europe and the United States."
 Headquartered in Budapest, Chemol utilizes an extensive sales force coupled with a comprehensive network of subsidiaries, joint ventures and 40 strategically located warehouses, to import and export chemical products. These products currently range from inorganic, organic, and petrochemicals to plastics and finished agrochemicals. The company employs over 400 people, and in 1991 it generated revenues of approximately $250 million.
 Kampen concluded, "Like our previous acquisitions, we expect Chemol will have an immediate positive impact on earnings. This company has operated profitably for many years and the addition of Great Lakes' ever-growing product portfolio promises to insure this trend continues for many years to come."
 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- 9/21/92
 /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 -- CL014 -- 1644 09/21/92 11:47 EDT
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Publication:PR Newswire
Date:Sep 21, 1992
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