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UNITED DOMINION, ROBERTSON-CECO ANNOUNCE DEFINITIVE AGREEMENT ON PROPOSED TRANSACTION

 UNITED DOMINION, ROBERTSON-CECO ANNOUNCE
 DEFINITIVE AGREEMENT ON PROPOSED TRANSACTION
 PITTSBURGH, Dec. 23, 1991/PR Newswire/ -- United Dominion Industries (NYSE: UDI) and Robertson-Ceco Corporation (NYSE: RHH) today said they have signed a definitive agreement under which United Dominion will acquire the assets of Robertson-Ceco Doors and Robertson's architectural and industrial wall systems businesses for a cash purchase price of approximately $135 million.
 The proposed transaction was announced last month with a letter of intent. The sale, which is expected to close in late January 1992 following completion of regulatory approvals and other customary conditions, will be retroactive to the beginning of the year. It was earlier approved by the boards of directors of both companies.
 The businesses involved in the transaction have annual revenues of approximately $265 million and include 10 U.S. manufacturing facilities that employ about 2000 workers. These operations will become part of United Dominion's construction products and services segment, which currently includes United Dominion Construction and Varco-Pruden Buildings in the United States and Dominion Bridge in Canada.
 Robertson-Ceco said it intends to apply the proceeds from the sale toward extensive operational restructuring, a significant reduction of debt and the support of its substantial on-going letter of credit requirements.
 -0- 12/23/91
 /CONTACT: Robert L. Shaffer, United Dominion, 704-347-6875, or John J. O'Malley, Robertson-CECO Corporation, 412-281-3200/
 (UDI RHH) CO: United Dominion Industries; Robertson-Ceco Corporation ST: North Carolina, Pennsylvania IN: CST SU: TNM


DF -- CH007 -- 4953 12/23/91 16:29 EST
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Publication:PR Newswire
Date:Dec 23, 1991
Words:244
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