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LUKENS COMPLETES CLOSING ON WASHINGTON STEEL ACQUISITION

 LUKENS COMPLETES CLOSING ON WASHINGTON STEEL ACQUISITION
 COATESVILLE, Pa., April 24 /PRNewswire/ -- Lukens Inc. (NYSE: LUC)


announced today that it has completed the previously announced $280 million purchase of Washington Steel Corporation.
 The financing for the transaction was led by The Toronto-Dominion Bank and NBD Bank, N.A.
 R. William Van Sant, chairman and chief executive officer of Lukens, said he was "pleased by the early completion of the purchase. Washington participates in the growing stainless steel marketplace and has earned an outstanding reputation for quality products and superior customer service. Combining Lukens' strong position in the carbon and alloy plate steel markets with Washington's presence in the stainless steel market is a major step in our strategy to grow and build value while staying closely aligned with our strengths."
 Van Sant also announced two management appointments: Robert E. Heaton will continue as president and chief operating officer of Washington's Mill Group, which includes manufacturing operations in Washington and Houston, Pa., and Massillon, Ohio. James J. Norton has been named president and chief operating officer of Washington's seven service center operations in the United States and Canada. Both executives will report to Lukens' CEO. As planned, Thomas C. Graham has left the company with the completion of the transaction.
 Lukens Inc. is a Fortune 500 company that provides carbon and alloy plate steels, stainless steel sheet and strip products, traffic and industrial safety products, and materials-handling equipment. Lukens also provides pipe-coating and corrosion protection services and operates three short-line railroads.
 /delval/
 -0- 4/24/92
 /CONTACT: W. Evelyn Walker of Lukens, 215-383-2504/
 (LUC) CO: Lukens, Inc. ST: Pennsylvania IN: MNG SU: TNM


LJ -- PH046 -- 2657 04/24/92 16:29 EDT
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Publication:PR Newswire
Date:Apr 24, 1992
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