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INDUSTRIAL HOLDINGS ACQUIRES PIPELINE VALVE SPECIALTY

 INDUSTRIAL HOLDINGS ACQUIRES PIPELINE VALVE SPECIALTY
 HOUSTON, Jan. 31 /PRNewswire/ -- Robert Cone, CEO of Industrial Holdings Inc. (NASDAQ-NMS: IHII) today announced the acquisition of Pipeline Valve Specialty Inc. of Houston, Texas, a privately held company. Cone stated, "Pipeline Valve had 1991 revenues in excess of $4 million with excellent margins and profits. Present management will remain to operate this, our first acquisition since becoming a public company. This acquisition alone, should assure Industrial Holdings to have revenues for 1992 in excess of $22 million." The cost of the acquisition was approximately $2.5 million in cash and stock.
 Cone went on to say, "With our strong balance sheet and the current banking environment, we are in an excellent position to continue to acquire companies in this highly fragmented, distribution and light manufacturing industry. While we are flexible, our primary emphasis is on companies servicing the petrochemical, refining and processing industries."
 Industrial Holdings Inc. is a Texas holding company which also owns Industrial Municipal Supply Corp. of Houston, a pipe, valve and fitting distributor.
 -0- 1/31/92
 /CONTACT: Bill Argeroplos, executive vice president of Industrial Holdings, 713-651-1116/
 (IHII) CO: Industrial Holdings Inc. ST: Texas IN: SU: TNM SH -- NY032 -- 5579 01/31/92 11:41 EST
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 /CONTACT: Christine Haas of Vogue Patterns, 212-620-2601, or fax, 212-620-2746/ CO: Vogue Patterns ST: New York IN: HOU SU: PDT


SM-JT -- NYFNS1 -- 5579 01/31/92 07:31 EST
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Publication:PR Newswire
Date:Jan 31, 1992
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