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MOBIL'S POLYSTYRENE RESIN BUSINESS SOLD TO BASF

 MOBIL'S POLYSTYRENE RESIN BUSINESS SOLD TO BASF
 FAIRFAX, Va., July 1 /PRNewswire/ -- Mobil Corporation (NYSE: MOB)


said today it had completed the sale of Mobil Chemical Company's polystyrene resin business to BASF Corporation.
 BASF has offered employment to the unit's 288 employees.
 The operations have production capacity of more than 620 million pounds a year, with manufacturing plants in Joliet, Illinois, Santa Ana, California, and Holyoke, Massachusetts. The Joliet facility includes a 120-million-pound-per-year expansion of high-impact polystyrene capacity, which came on stream a year ago. Research and development functions also are included in the sale.
 Mobil Chemical will continue to operate its polystyrene fabricating businesses, which are unaffected by the sale.
 Financial terms were not disclosed.
 Mobil and BASF announced their intention to do the transaction Jan. 16.
 -0- 7/1/92
 /CONTACT: John Lord of Mobil, 703-846-2500/
 (MOB) CO: Mobil Corporation; BASF Corporation ST: Virginia, New Jersey IN: CHM SU: TNM


PS -- NY084 -- 5744 07/01/92 13:08 EDT
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Publication:PR Newswire
Date:Jul 1, 1992
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