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KYSOR INDUSTRIAL ANNOUNCES SETTLEMENT

 CADILLAC, Mich., Dec. 15 /PRNewswire/ -- George R. Kempton, chairman and chief executive officer of Kysor Industrial Corporation (NYSE: KZ), announced today that a settlement has been reached between the company and other parties relating to the adverse jury verdict entered against and disclosed by Kysor in June 1991. The litigation arose out of an alleged contract involving Medallion Instruments, Inc., which Kysor acquired in 1986.
 Although the company was in the process of appealing the verdict, Kempton indicated the parties reached an acceptable settlement agreement and desired to put this issue behind it so that management time and effort will be utilized for expanding the growth of the company. Kempton also indicated that the settlement was adequately reserved for in 1991 and accordingly, would have no additional adverse effect on income.
 Kysor Industrial Corporation is a quality producer of refrigerated display cases and refrigerated building systems and heavy-duty vehicle and marine components serving the supermarket and the transportation industries. The company has manufacturing operations in six states as well as Great Britain and Germany.
 -0- 12/15/92
 /CONTACT: Peter W. Gravelle, executive vice president and chief operating officer, David W. Crooks, vice president, general counsel and secretary, or Richard G. De Boer, assistant treasurer, Kysor Industrial Corporation, 616-779-2200/
 (KZ)


CO: Kysor Industrial Corporation ST: Michigan IN: SU:

JG -- DE020 -- 7273 12/15/92 14:12 EST
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Publication:PR Newswire
Date:Dec 15, 1992
Words:227
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