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GenCorp to Purchase Sequa Chemical Unit

21 July 1998

GenCorp to Purchase Sequa Chemical Unit of Sequa Corporation

    FAIRLAWN, Ohio, July 21 -- GenCorp Inc. and Sequa
Corporation have signed a letter of intent pursuant to
which GenCorp will purchase Sequa Chemicals, the Specialty Chemicals Unit of
Sequa Corporation headquartered in Chester, South Carolina, with a second
plant in Greensboro, North Carolina.  The companies expect that the
transaction will close in the third quarter.  Terms are not being disclosed by
the companies.
    GenCorp is a technology based manufacturer in three market segments that
include polymer products such as decorative laminates, latex and other
specialty chemicals, aerospace and defense systems and automotive vehicle
sealing components.
    Headquartered in New York, Sequa Corporation is a diversified technology
company with businesses in the printing, specialty chemicals, aircraft,
aerospace and defense and automotive industries.