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UNITED DOMINION REPORTS SUBSTANTIAL EARNINGS INCREASE

 CHARLOTTE, N.C., Oct. 25 /PRNewswire/ -- United Dominion Industries Limited (NYSE: UDI;Toronto) today said third-quarter earnings rose 83 percent from the same period a year ago and were substantially ahead of this year's second quarter.
 The company reported third-quarter net income of $13.8 million, or 35 cents per common share after preferred dividends of $1.2 million. This compared with net income of $7.5 million and 17 cents per common share after preferred dividends of $1.3 million in the third quarter of 1992. Sales grew 20 percent during the latest three months to $532.5 million compared with $443.8 million a year ago.
 William R. Holland, chairman and chief executive officer, said "the company's latest results were enhanced by the acquisition of The Marley Company in August, improvement at Varco-Pruden Buildings and a continued low interest rate environment."
 Third-quarter results included a $1.7 million loss at ENCORP, associated with the closure of this operation, and a $2 million loss at Dominion Bridge, which continues to encounter weak activity in Canada.
 The company's BOMAG compaction equipment unit and most of its U.S. construction-related businesses continued to produce below average results in sluggish markets, according to Mr. Holland.
 For the nine months ended September 30, United Dominion earned net income of $22.4 million or 52 cents per common share after preferred dividends, compared with $14.9 million or 33 cents per share in the same period a year ago. Sales increased approximately 14 percent to $1,423.7 million in the first nine months this year compared with $1,248.9 million in 1992, largely reflecting higher materials flow through at Litwin E&C and inclusion of Marley.
 "We are very pleased with the Marley operations, which are already contributing substantially to the company's results and significantly broadening our Industrial Products Segment," Mr. Holland said.
 United Dominion is a manufacturing, engineering and construction company serving construction and industrial equipment markets worldwide. The company operates more than 60 plants and has approximately 13,400 employees worldwide.
 Following is a tabulation of the company's unaudited results (in thousands of U.S. dollars, except per share data):
 QUARTER ENDED SEPTEMBER 30 1993 1992
 Sales $ 532,466 $ 443,844
 Income from continuing operations
 before income taxes 17,754 10,637
 Income tax provision 5,208 4,306
 Income from continuing operations 12,546 6,331
 Income from discontinued operations -
 Tax benefit from loss carryforwards 1,228 1,198
 Net income 13,774 7,529
 Preferred share dividends (1,211) (1,324)
 Earnings applicable to common shares 12,563 6,205
 Per common share data:
 Continuing operations $ 0.32 $ 0.14
 Discontinued operations 0.03 0.03
 Net earnings $ 0.35 $ 0.17
 Average common shares outstanding
 (in thousands) 35,880 35,826
 NINE MONTHS ENDED SEPTEMBER 30 1993 1992
 Sales $ 1,423,657 $ 1,248,866
 Income from continuing operations
 before gain on sale and income taxes 29,834 18,575
 Gain on sale of business -- 2,100
 Income tax provision 11,775 8,164
 Income from continuing operations 18,059 12,511
 Income from discontinued operations -
 Tax benefit from loss carryforwards 4,316 2,427
 Net income 22,375 14,938
 Preferred share dividends (3,760) (4,151)
 Earnings applicable to common shares 18,615 10,787
 Per common share data:
 Continuing operations $ 0.40 $ 0.26
 Discontinued operations 0.12 0.07
 Net earnings $ 0.52 $ 0.33
 Average common shares outstanding
 (in thousands) 35,861 32,362
 OPERATING INFORMATION - SEGMENT RESULTS
 (In millions of U.S. dollars)
 SALES
 Quarters Nine Months
 Ended Ended
 September 30, September 30,
 1993 1992 1993 1992
 Industrial Products $179 $110 $377 $312
 Engineering Services 122 119 437 304
 Construction Products and Services 231 215 610 633
 Totals $532 $444 $1,424 $1,249
 OPERATING PROFIT
 Quarters Nine Months
 Ended Ended
 September 30, September 30,
 1993 1992 1993 1992
 Industrial Products $18.0 $ 9.7 $31.9 $27.8
 Engineering Services 3.3 4.5 16.6 13.1
 Construction Products and Services 5.8 3.7 4.2 3.8
 Totals $27.1 $17.9 $52.7 $44.7
 BACKLOG
 Sept. 30, Dec. 31, Sept. 30,
 1993 1992 1992
 Industrial Products $176 $ 63 $ 73
 Engineering Services 314 511 588
 Construction Products and Services 338 309 345
 Totals $828 $883 $1,006
 -0- 10/25/93
 /CONTACT: Robert L. Shaffer of United Dominion, 704-347-6875/
 (UDI)


CO: United Dominion Industries Limited ST: North Carolina IN: CST SU: ERN

CM -- CH005 -- 6198 10/25/93 10:14 EDT
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Date:Oct 25, 1993
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