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INDRESCO INC. ANNOUNCES DEFINITIVE AGREEMENT WITH KOMATSU

 DALLAS, Sept. 22 /PRNewswire/ -- INDRESCO Inc. (NYSE: ID) announced today that it and Komatsu have executed a definitive agreement to modify their relative ownership interests in their 50/50 partnership, Komatsu Dresser Company (KDC), headquartered in Lincolnshire, Ill.
 The agreement provides for Komatsu to increase its ownership interest in the partnership to 81 percent and INDRESCO's interest to be decreased to 19 percent. Additionally, under certain options, INDRESCO's remaining interest could be decreased and Komatsu could increase its interest to 100 percent. The closing of the transaction is scheduled for Sept. 30, 1993. As previously announced, in consideration of the modification of its interest, INDRESCO will receive the approximate pro rata book value of KDC adjusted for retiree health care obligations.
 INDRESCO, headquartered in Dallas, is a major supplier of surface and underground mining equipment, refractories for high-temperature processes, and specialized air tools. INDRESCO's 1992 consolidated revenues totaled $559 million.
 -0- 9/22/93
 /CONTACT: Gene E. Leeson of INDRESCO Inc., 214-953-4505/
 (ID)


CO: INDRESCO, Inc.; Komatsu ST: Texas IN: MNG SU: JVN

TM -- NY080 -- 4847 09/22/93 16:12 EDT
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Publication:PR Newswire
Date:Sep 22, 1993
Words:182
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