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HARNISCHFEGER INDUSTRIES, INC. TO SELL HARNISCHFEGER ENGINEERS UNIT

 MILWAUKEE, Sept. 22 /PRNewswire/ -- Harnischfeger Industries, Inc. (NYSE: HPH) said today that it has entered into a letter of intent to sell its Harnischfeger Engineers, Inc. unit to a management buyout group led by the unit president, John Splude, and a venture capital partner.
 Harnischfeger Industries did not disclose the terms of the transaction which, it said, is contingent upon satisfactory resolution of a number of matters.
 Harnischfeger Engineers, Inc. provides systems integration and automated material handling services to a broad base of clients. Its sales in 1992 were $101.3 million.
 Harnischfeger Industries is a diversified international holding company that operates four subsidiaries involved in: papermaking machinery manufacturing (Beloit Corporation); surface mining and overhead material handling equipment manufacturing (Harnischfeger Corporation); and systems integration services (Harnischfeger Engineers, Inc. and Syscon Corporation).
 -0- 9/22/93
 /CONTACT: Francis M. Corby, Jr., senior vice president, finance and chief financial officer of Harnischfeger, 414-797-6518/
 (HPH)


CO: Harnischfeger Industries, Inc. ST: Wisconsin IN: SU:

LG-SM -- NY010 -- 4557 09/22/93 09:33 EDT
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Publication:PR Newswire
Date:Sep 22, 1993
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