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QUANEX MAKES CAPITAL ADDITIONS TO NICHOLS HOMESHIELD DIVISION

 HOUSTON, May 17 /PRNewswire/ -- Quanex Corporation (NYSE: NX), a leading manufacturer of specialized metal products, announced today the purchase of $9 million in capital additions for its Nichols Homeshield Aluminum Division. Much of the $9 million will be used to further enhance the finished quality of the division's cold-rolled aluminum product at its facility in Lincolnshire by allowing for the purchase of a new tension leveler, slitter and packaging line which, along with continuing improvements in its process control, will serve to produce a flatter aluminum product. Part of the capital additions program will serve to purchase a newly designed continuous casting ceramic belt system which will further upgrade the surface quality of sheet products produced from the division's new mini-mill casting plant in Davenport.
 Once installed, the new equipment at both Lincolnshire and Davenport will enable Nichols Homeshield to continue to meet its customers ever- increasing demands for better quality products while moving the Nichols Homeshield Division into a higher value-added product line. A company spokesman said the equipment will be installed over the next year.
 During 1993, Quanex expects to authorize the purchase of a third melting furnace for the Davenport facility. At this time, Nichols Homeshield management is determining exactly what its melting rate capacity needs are. A third furnace at the Davenport plant would bring the facility's melting rate more in line with its current casting capacity of 280 million pounds.
 CORPORATE PROFILE
 Quanex is a technological leader in the manufacture of steel and aluminum specialized metal products for transportation, capital equipment, home building and remodeling and energy processing markets.
 Latest Twelve Month Data: Sales: $588.6 million, operating earnings: $18.3 million, net income: $6.1 million, cash from operations: $31.7 million, earnings per primary share: $.28, quarterly common dividend rate: 14 cents per share, book value per share: $10.89, long- term debt to capitalization: 35.4 percent, return on common equity: 1.4 percent, common stock price range (52 week High & Low): $31-3/4 & $14- 1/4.
 -0- 5/17/93
 /CONTACT: Jeff Galow, 713-877-5327 or Ann Meador, 713-961-4600, both of Quanex Corporation/
 (NX)


CO: Quanex Corporation ST: Texas IN: SU:

MM -- CH008 -- 9240 05/17/93 12:59 EDT
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Publication:PR Newswire
Date:May 17, 1993
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