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SERV-TECH ANNOUNCES ACQUISITION

 SERV-TECH ANNOUNCES ACQUISITION
 HOUSTON, Feb. 3 /PRNewswire/ -- Serv-Tech, Inc. (NASDAQ: STEC)


announced today that it has entered into a letter of intent to acquire Hartney Industrial Services Corporation of Houston. The acquisition will be completed through an exchange of common stock and will be accounted for under the pooling of interests method.
 Hartney Industrial Services is a specialty contractor engaged in the installation and maintenance of refractory and corrosion-resistant brick, and other lining and coating systems designed to protect processing facilities from extreme heat and corrosive substances. It is a leading provider of these services to the petroleum refining industry, and also serves the petrochemical, cement, power, waste incineration, food and beverage, and pulp and paper industries. Hartney specializes in providing refractory and maintenance services on turnaround of fluid catalytic cracking units, the main processing unit of petroleum refineries. In its last fiscal year, ended June 30, 1991, Hartney had revenues of $37.8 million.
 "Hartney Industrial Services is the premier provider of refractory services to the refining industry in the United States," stated Richard W. Krajicek, chairman of the board of directors of Serv-Tech, Inc. "We have worked together closely on several projects over the past few years and believe that this merger will strengthen both companies. Serv-Tech will provide to Hartney the financial support necessary for it to continue the significant growth achieved in the last three years. Hartney adds an important new product line which; in combination with Serv-Tech's mechanical turnaround capabilities, will provide the opportunity to expand the size and scope of jobs we perform."
 Completion of the transaction is subject to the execution of a definitive agreement, completion of due diligence, and the approval of the boards of directors of both companies. Specific terms of the transaction will be released upon completion. If the acquisition is completed, Hartney Industrial Services will operate as a wholly-owned subsidiary and continue to serve its well-established customer base with current management and staff.
 Serv-Tech provides specialty maintenance, construction and environmental services to the hydrocarbon processing and pulp and paper industries in the United States and Europe.
 -0- 2/3/92
 /CONTACT: John M. Slack of Serv-Tech, 713-644-9974/
 (STEC) CO: Serv-Tech Inc. ST: Texas IN: SU: TNM


SH -- NY046 -- 6130 02/03/92 11:18 EST
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Publication:PR Newswire
Date:Feb 3, 1992
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