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SEC DECLARES EFFECTIVE VARLEN'S REGISTRATION STATEMENT RELATING TO OFFERING OF 6.5 PERCENT CONVERTIBLE SUBORDINATED DEBENTURES DUE 2003

 NAPERVILLE, Ill., May 21 /PRNewswire/ -- Varlen Corp. (NASDAQ: common stock VRLN and debentures VRLNG) said today that the Securities and Exchange Commission declared effective after the close of trading on May 20 the company's registration statement relating to the public offering of approximately $60 million aggregate principal amount of 6.5 percent convertible subordinated debentures due 2003, which are initially convertible into common stock of the company at $41 per share.
 The company will apply the proceeds from the sale of the debentures to the reduction of outstanding long-term debt. The offering is being underwritten by Smith Barney, Harris Upham & Co. Inc.
 Varlen designs, manufactures and markets engineered industrial products, primarily for specialized applications in the transportation and laboratory equipment markets. The company serves U.S. and foreign markets with operating locations in the United States and Germany.
 Headquarters are in Naperville. The common stock is traded over-the-counter on the NASDAQ National Market System under the symbol VRLN, and the debentures are listed for trading on the NASDAQ System under the symbol VRLNG.
 -0- 5/21/93
 /CONTACT: Richard L. Wellek, president and CEO, or Richard A. Nunemaker, vice president - finance and CFO of Varlen, 708-420-0400; or Nicholas G. Biro of O'Connor Biro & Associates, 708-498-2284/
 (VRLN)


CO: Varlen Corp. ST: Illinois IN: SU: OFR

WB -- NY027 -- 1167 05/21/93 11:22 EDT
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Publication:PR Newswire
Date:May 21, 1993
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