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UGI'S GAS UTILITY TO INCREASE CAPITAL SPENDING 18 PERCENT; ANOTHER UNIT SELLS PLANT FOR $8 MILLION

 UGI'S GAS UTILITY TO INCREASE CAPITAL SPENDING 18 PERCENT;
 ANOTHER UNIT SELLS PLANT FOR $8 MILLION
 VALLEY FORGE, Pa., Aug. 27 /PRNewswire/ -- UGI Corp. (NYSE: UGI), a holding company with utility and propane marketing subsidiaries, reported that directors of its UGI Utilities subsidiary have increased the 1992 capital expenditures budget of its gas utility unit 18 percent to $32.8 million, about equal to its outlays in 1991.
 UGI said the additional expenditures are necessary to meet higher than anticipated demand for natural gas service in residential and commercial markets.
 The gas utility's growth rates are currently greater than the national average for gas distribution utilities, UGI said. As reported, it has added more than 3,400 new customers in the first half of the year.
 UGI also disclosed that its Development Company subsidiary has sold an air separation plant in Elko County, Nev., to Independence Mining Company Inc. for $8 million.
 UGI said it will record an after-tax gain on the transaction of approximately $900,000, or 3 cents a share.
 The plant produces oxygen which is used in Independence Mining Company's gold refining operations. It was constructed in 1989 and was leased to a third party prior to the sale.
 /delval/
 -0- 8/27/92
 /CONTACT: Vince Testa of UGI, 215-337-1000/
 (UGI) CO: UGI Corporation; Independence Mining Company Inc. ST: Pennsylvania, Nevada IN: UTI SU:


JS-MP -- PH027 -- 4041 08/27/92 15:00 EDT
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Publication:PR Newswire
Date:Aug 27, 1992
Words:236
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