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HANSON INDUSTRIES TO SELL WEBER AIRCRAFT FOR $85 MILLION CASH

 HANSON INDUSTRIES TO SELL WEBER AIRCRAFT FOR $85 MILLION CASH
 NEW YORK, Oct. 6 /PRNewswire/ -- Lord White, chairman of Hanson Industries, the U.S. arm of Hanson PLC (NYSE: HAN), announced today that Hanson has signed an agreement to sell its Weber Aircraft unit to Air Cruisers Company, Inc., a member of Groupe Zodiac, a French manufacturer of inflatable boats, aircraft escape chutes and life vests. The purchase price is $85 million, a $37 million premium to book value as of Aug. 29, 1992, and payable in cash at closing. The transaction is subject to certain governmental approvals and is expected to be completed in early November.
 Weber Aircraft, headquartered in Fullerton, Calif., with facilities at Brea, Calif., and Gainesville, Texas, manufactures interior equipment for commercial and military aircraft, including seating, galleys, lavatories and airstairs for commercial aircraft, as well as crew seats and military transport passenger seating.
 For the fiscal year ended Sept. 30, 1991, Weber reported an operating loss, attributable to several low-margin contracts and manufacturing inefficiencies, on sales of about $150 million.
 Hanson PLC is a British-American industrial management corporation. In the United States, Hanson Industries' operations include SCM Chemicals, Peabody Coal and Powder River Coal, Cavenham Forest Industries, Beazer, Jacuzzi, Grove Crane, Ames Tools, Endicott Johnson Footwear, Hanson Lighting Group, Kaiser Cement, Farberware Cookware, and Gold Fields Mining, among others.
 In the United Kingdom, Hanson's holdings include Imperial Tobacco, ARC Aggregates, London Brick, Butterley Brick, Beazer Homes and Smith Meters.
 -0- 10/6/92
 /CONTACT: Mickey Foster of Hanson Industries, 908-603-6977/
 (HAN) CO: Hanson PLC; Weber Aircraft; Air Cruisers Co. ST: New York, California IN: AIR SU: TNM


GK -- NY018 -- 6937 10/06/92 09:36 EDT
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Publication:PR Newswire
Date:Oct 6, 1992
Words:281
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