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SELAS SAYS FINANCING IS IN PLACE FOR TURKISH STEEL PLANT CONTRACT

 DRESHER, Pa., Dec. 30 /PRNewswire/ -- Selas Corporation of America (AMEX: SLS) announced today that the consortium of which it is a member has received financing from the Export-Import Bank of Japan, clearing the way for its contract to supply a continuous annealing line to Eregli Iron and Steel Works Inc. (Erdermir), Eregli, Turkey.
 The contract will become effective Jan. 1, 1993.
 Stephen F. Ryan, president and chief executive officer of Selas, said that his company's portion of the order, which was announced earlier this year, is valued in excess of 196 million French francs ($35 million) and is included in the company's backlog of $50,660,000 as reported Sept. 30, 1992.
 Seals Corporation of America is an international design, development, engineering and manufacturing company.
 /delval/
 -0- 12/30/92
 /CONTACT: Stephen F. Ryan, president and chief executive officer of Selas, 215-283-8402/
 (SLS)


CO: Selas Corporation of America ST: Pennsylvania IN: SU: CON

CC -- PH015 -- 0635 12/30/92 13:44 EST
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Publication:PR Newswire
Date:Dec 30, 1992
Words:162
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