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LSB INDUSTRIES, INC. ANNOUNCES LETTER OF INTENT TO ACQUIRE IBI CORPORATION

 OKLAHOMA CITY, Nov. 17 /PRNewswire/ -- LSB Industries, Inc. (AMEX: LSB) ("LSB") announced today that it has signed a letter of intent to acquire, for approximately $2,900,000, all of the assets of International Bearings Corporation, a/k/a IBI Corporation, a distributor of agricultural and power transmission bearings and roller chains, located in Memphis, Tenn. The letter of intent is subject to the execution of a definitive agreement between the parties and approval by the board of directors of LSB.
 Jack E. Golsen, board chairman, stated that this acquisition will expand the customer base and product line of the company's automotive products business. LSB's automotive products business is a leader in the automotive aftermarket and distributes other automotive products including oil seals, clutches and motor mounts.
 LSB is a diversified company engaged in a variety of manufacturing, engineering, marketing and financial service activities on a world wide basis. LSB's principal business activities consist of the manufacture and sale of chemical products for the explosives, agricultural and industrial markets, commercial and residential air conditioning products, automotive and industrial products, and the financial services business. LSB's common stock is listed for trading on the American Stock Exchange.
 -0- 11/17/93
 /CONTACT: Tony M. Shelby, CFO of LSB Industries, 405-235-4546/
 (LSB)


CO: LSB Industries, Inc. ST: Oklahoma, Tennessee IN: SU: TNM

SH -- NY089 -- 5619 11/17/93 15:34 EST
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Publication:PR Newswire
Date:Nov 17, 1993
Words:229
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