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INDRESCO REPORTS RE-ELECTION OF CASEY AND SHARIF TO BOARD

 DALLAS, March 17 /PRNewswire/ -- INDRESCO Inc. (NYSE: ID) today reported that the shareholders had re-elected Samuel B. Casey and Yazan N. Sharif to the board of directors for a three year term expiring in 1996.
 Casey currently serves on the Board of Directors of Northbrook, Inc., a division of JMB, Inc., Dresser Industries, Inc. and Dixon Ticonderoga Company. Prior to retirement from Dixon Ticonderoga, he served as chairman of the board. He currently serves on two INDRESCO Board of Directors' committees: Audit and Finance Committee and Executive Compensation Committee.
 Sharif has served as president and chief operating officer of INDRESCO since its inception in March 1992. From August 1986 to March 1992, he was the president of Harbison-Walker Division of Dresser Industries, Inc. in Pittsburgh, Pa. He is a member of the executive committee of the board of directors.
 The shareholders also approved amendments to the company's 1992 Stock Compensation Plan to more closely align the interests of shareholders and the executive management team and to create additional incentives for increasing shareholder value.
 Ralph W. Ytterberg, chairman and chief executive officer told the shareholders that INDRESCO's entire organization was encouraged about the company's prospects. He said that after 14 consecutive quarterly losses at the 50 percent owned Komatsu Dresser joint venture, it appeared that the operation was on the verge of turning profitable. Additionally, he said that the backlog of unshipped construction equipment orders are up, steel output is strengthening and the outlook for housing starts is encouraging. However, he said that future profitability will depend, to a large degree, on the continued improvement in the economy.
 INDRESCO is a major industrial company that provides products essential to basic industrial production and infrastructure development. It is comprised of the former industrial businesses of Dresser Industries, Inc., spun-off to shareholders in August 1992.
 -0- 3/17/93
 /CONTACT: Gene E. Leeson of INDRESCO Inc., 214-953-4505/
 (ID)


CO: INDRESCO Inc. ST: Texas IN: SU: PER

WB -- NY080 -- 7126 03/17/93 15:47 EST
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Publication:PR Newswire
Date:Mar 17, 1993
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