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LSB INDUSTRIES, INC. ANNOUNCES CONTRACT EFFECTIVE ON $56 MILLION SALE TO FOREIGN CUSTOMER AND RECEIPT OF THE INITIAL $6.1 MILLION DOWN PAYMENT

LSB INDUSTRIES, INC. ANNOUNCES CONTRACT EFFECTIVE ON $56 MILLION SALE TO

FOREIGN CUSTOMER AND RECEIPT OF THE INITIAL $6.1 MILLION DOWN PAYMENT
 OKLAHOMA CITY, Oct. 14 /PRNewswire/ -- LSB Industries, Inc. previously announced that its automotive products subsidiary signed a definitive agreement, which would become effective upon receipt of the first payment, to supply a customer in an East European Country with equipment and technology to manufacture automotive products.
 The agreement provides for a total sales price of $56 million, including a $12.2 million payment in two installments, and the provision of a letter of credit covering the balance.
 The agreement is now effective as the automotive products subsidiary has received the first cash payment of $6.1 million. Receipt of the second cash payment of $6.1 million and the letter of credit for the balance is expected within 30 days.
 In making this announcement, LSB Board Chairman Jack E. Golsen stated that the subsidiary of LSB has agreed to purchase automotive products from the foreign customer over a 10 year period, and in addition expects to invest at a later date a total of $12 million in the customer's venture, rather than the $6 million previously disclosed.
 LSB is a diversified company engaged in financial services and a variety of manufacturing, engineering, and marketing activities on a worldwide basis. LSB's principal industrial business activities consist of the manufacture and sale of chemical products, commercial air conditioning products, and automotive and industrial products. LSB's common stock, debentures, and Series 1 Preferred Stock are listed for trading on the American Stock Exchange.
 -0- 10/14/92
 /CONTACT: Tony M. Shelby, chief financial officer of LSB Industries, Inc., 405-235-4546/
 (LSB) CO: LSB Industries, Inc. ST: Oklahoma IN: SU: CON


SM -- NY065 -- 9939 10/14/92 14:02 EDT
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Publication:PR Newswire
Date:Oct 14, 1992
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