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GREAT LAKES TO SELL LUBE ADDITIVES BUSINESS

 WEST LAFAYETTE, Ind., June 23 /PRNewswire/ -- Emerson Kampen, chairman, president, and chief executive officer of Great Lakes Chemical Corporation (NYSE: GLK), today announced that the company has reached an agreement in principal to sell to the Lubrizol Corporation (NYSE: LZ) certain assets of the lubricant additives business of Great Lakes Chemical France S. A., formerly known as Societe Francaise d'Organo- Synthese (SFOS). Lubrizol is the world's leading supplier of lubricant additives. The transaction, which may be subject to governmental approval in one or more European countries, should be completed sometime in the third quarter for an undisclosed amount of cash.
 Kampen stated, "By taking this action, the marketing activities of Great Lakes Chemical France will be better positioned to focus on and take advantage of our technological strengths in plastics additives. We have set a goal of growing our plastics additives business at a double- digit rate through at least 1998 and is in keeping with our other announcement today regarding the acquisition of Chemische Werke LOWI GmbH & Co. (Lowi)."
 Under the agreement, Great Lakes Chemical France will continue to manufacture certain lubricant additives for Lubrizol on a long term contract basis.
 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- 6/23/93
 /CONTACT: David R. Bouchard or Gregory J. Griffith, both of Great Lakes Chemical Corporation, 317-497-6100/
 (GLK LZ)


CO: Great Lakes Chemical Corporation; Lubrizol Corporation ST: Indiana, Ohio IN: CHM SU: TNM

KL -- CL017 -- 5049 06/23/93 13:43 EDT
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Publication:PR Newswire
Date:Jun 23, 1993
Words:288
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