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QUANEX SELLS BELLVILLE TUBE PLANT

 HOUSTON, April 15 /PRNewswire/ -- Quanex Corporation (NYSE: NX), a leading manufacturer of specialized metal products, today announced the sale of the Bellville Tube Division of Quanex. The cash sale, at approximately book value, was to Bellville Tube Corporation, an affiliate of the P.C. Campana Group, headquartered in Lorain, Ohio.
 Wayne M. Rose, Quanex chief financial officer, said, "While the Bellville Tube Division was profitable, it did not fit our long-term strategic focus." Proceeds from the sale will be reinvested. The sale will not have a significant effect on Quanex's financial results.
 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- 4/15/93
 /CONTACT: Jeff Galow, 713-877-5327, or Ann Meador, 713-961-4600, both of Quanex Corporation/
 (NX)


CO: Quanex Corporation; Bellville Tube Division ST: Texas, Ohio IN: MNG SU:

SM -- NY118 -- 6518 04/15/93 17:57 EDT
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Publication:PR Newswire
Date:Apr 15, 1993
Words:228
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