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HANNA ENTERS AGREEMENT TO ACQUIRE COOKSON'S ENGINEERED MATERIALS DIVISION

 CLEVELAND, Jan. 19 /PRNewswire/ -- M.A. Hanna Company (NYSE/MSE: MAH), an international specialty polymers company, today announced a preliminary agreement to acquire the engineered materials division of Cookson America Inc., Providence, R.I.
 The engineered materials division comprises two businesses. Monmouth Plastics, Asbury Park, N.J., is a recognized leader in flame retardant polyolefins in the United States, and Texapol Corporation, Bethlehem, Pa., is a major producer of plastics compounds based in engineering thermoplastics.
 Monmouth Plastics and Texapol combined have annual sales of approximately $32 million and 105 employees. End markets served by the businesses include the electrical/electronics, consumer durables, appliances and automotive industries.
 Terms of the agreement between Hanna and Cookson are not disclosed. The transaction is subject to the approval of Hanna and Cookson boards of directors.
 Martin D. Walker, Hanna chairman and chief executive officer, highlights the strategic fit of the businesses in two important areas: improving Hanna's position in specialty compounding and expanding the technology base with higher performance thermoplastics.
 "The strengths of Monmouth in flame retardant plastics and Texapol with engineering thermoplastics fit our strategic focus to raise the overall level of technology at Hanna," Walker says. "Both add to the processing capabilities of our already strong presence in plastics compounding."
 Walker notes that the acquisition is anticipated to close at the end of the first quarter of 1993.
 M.A. Hanna Company is a leading international specialty chemicals company focused on the plastics and rubber industry. Primary businesses of M.A. Hanna are plastics and rubber compounding, color and additive concentrates, and distribution of resins and engineered plastic shapes.
 Cookson America is the North American operation of Cookson Group, plc. (LDN: CKSN). The Cookson Group operates businesses involved in plastics, ceramics and specialty chemicals as well as non-ferrous and precious metals.
 -0- 1/19/93
 /CONTACT: Barbara Gould (investors), 216-589-4085, or Andy Opila (media), 216-589-4018, both of the M.A. Hanna Company/
 (MAH)


CO: M.A. Hanna Company; Cookson America, Inc. ST: Ohio IN: CHM SU: TNM

BM -- CL024 -- 6532 01/19/93 16:12 EST
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Publication:PR Newswire
Date:Jan 19, 1993
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