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MOBIL CHEMICAL TO SELL BREAD BAG BUSINESS

 MOBIL CHEMICAL TO SELL BREAD BAG BUSINESS
 FAIRFAX, Va., July 8 /PRNewswire/ -- Mobil Corporation (NYSE: MOB)


said today its Mobil Chemical Company has signed a contract to sell its polyethylene bread bag manufacturing assets to Huntsman Design Products Corporation, a subsidiary of Huntsman Holdings Corporation.
 Mobil Chemical, the third largest supplier of polyethylene bread bags in the United States, manufactures the bags at a plant in Macedon, N.Y., near Rochester. Huntsman will relocate the operation within a year to a facility nearby in Fairport, New York.
 "The sale to Huntsman fits Mobil's on-going program to concentrate assets where we can be a market leader and to divest those businesses that do not fit our long term strategic interests," said Philip W. Matos, Mobil Chemical president.
 Huntsman Holdings Corporation, is privately owned by the Jon M. Huntsman family and is affiliated with Huntsman Chemical Corporation. Huntsman and its affiliated companies are major producers of petrochemicals in North America. Huntsman Holdings recently completed the acquisition of Goodyear's North American and international films products businesses.
 The price and terms of the sale by Mobil to Huntsman were not disclosed. Closing is expected to occur in about a month following certain government approvals and due diligence completion.
 -0- 7/8/92
 /CONTACT: John Lord of Mobil, 703-846-2500/
 (MOB) CO: Mobil Corporation; Huntsman Holdings Corporation ST: Virginia, New York IN: PAP SU: TNM


SB -- NY014 -- 7299 07/08/92 09:16 EDT
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Publication:PR Newswire
Date:Jul 8, 1992
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