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ICI PAINTS AGREES WITH LILLY INDUSTRIES ON BUSINESS TRANSFER

 CLEVELAND, March 2 /PRNewswire/ -- ICI Paints, a global business of Imperial Chemical Industries PLC (NYSE: ICI), announced today that it had reached agreement with Lilly Industries Inc. of Indianapolis for the transfer of ICI Paints' U.S.-based liquid industrial coatings business in exchange for an undisclosed sum of cash and Lilly's packaging coatings business.
 The acquired business will broaden ICI's existing position in the North American can coatings sector, and continues ICI Paints' moves to focus resources on supporting its decorative, auto refinish and packaging coatings businesses worldwide.
 The agreement is subject to regulatory approval in the United States. The transaction represents less than 1 percent of ICI Group net assets.
 -0- 3/2/93
 /CONTACT: Ed Seage of ICI, 212-644-9274; or Jo-Anne Sinnott of Ogilvy Adams & Rinehart, 212-880-5330, for ICI/
 (ICI)


CO: Imperial Chemical Industries PLC ST: Ohio, Delaware IN: CHM SU:

WB -- NY056 -- 1901 03/02/93 11:31 EST
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Publication:PR Newswire
Date:Mar 2, 1993
Words:153
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