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LSB INDUSTRIES ANNOUNCES $56 MILLION SALE TO FOREIGN CUSTOMER

 LSB INDUSTRIES ANNOUNCES $56 MILLION SALE TO FOREIGN CUSTOMER
 OKLAHOMA CITY, July 7 /PRNewswire/ -- LSB Industries, Inc. (AMEX: LSB) announced today that its Automotive Products subsidiary has signed a definitive agreement to supply a customer in an East European country with equipment to manufacture automotive products. Making the announcement, LSB Board Chairman Jack E. Golsen stated that the sale includes licenses, designs, tooling, machinery, equipment, technical information, proprietary know-how, and technical services. The agreement provides for a total sales price of $56 million to be paid in cash, part of which is to be received within 30 days and part of which is to be covered by a letter of credit confirmed by a major U.S. bank.
 Golsen further 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 $6 million in the customer's venture at a future date.
 The agreement is to become effective upon receipt of the cash down-payment of 22 percent and the letter of credit for the balance which are expected within 30 days.
 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- 7/7/92
 /CONTACT: Tony M. Shelby, chief financial officer of LSB Industries, 405-235-4546/
 (LSB) CO: LSB Industries Inc. ST: Oklahoma IN: CHM SU: TNM


TS -- NY042 -- 6977 07/07/92 11:42 EDT
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Publication:PR Newswire
Date:Jul 7, 1992
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