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Sequa Completes Sale of Domestic Specialty Chemicals Unit

30 October 1998

Sequa Completes Sale of Domestic Specialty Chemicals Unit

    NEW YORK--Oct. 29, 1998--Sequa Corporation has completed the sale of its US-based specialty chemicals unit, Sequa Chemicals Inc., to GenCorp Inc. for cash proceeds of approximately $108 million.
    The transaction concluded today does not include Warwick International, Sequa's British-based producer of detergent wash boosters and other specialty products. Through Warwick, Sequa Corporation will continue to produce advanced products for the global specialty chemicals market.
    Sequa Corporation, headquartered in New York, is a technology-centered industrial company whose other operations include the repair and manufacture of components for jet engines; the production of propellant for space and missile applications; the manufacture of automotive airbag inflators; the coating of metal coil; the supply of industrial dryers and two-piece can equipment; and the production of automotive cigarette lighters, power outlets, and other products.
    Sequa press releases are on the Internet at Corporate News on the Net (www.businesswire.com/cnn/sqaa.htm).