LSB Completes Sale of Automotive Products Business
8 May 2000
LSB Industries, Inc., Completes Sale of Automotive Products BusinessOKLAHOMA CITY, May 8 LSB Industries, Inc. (OTC Bulletin Board: LSBD) (the "Company") announced today that it has completed the sale of substantially all of the assets of its Automotive Products Business. The purchaser of the Automotive Products Business assumed approximately $22 million of the Automotive Products Business' debts and issued to the Company $8.6 million subordinated promissory notes. Jack E. Golsen, the Company's Chairman, stated that this sale represents significant progress in the plan of the Company to focus on its core Chemical and Climate Control Business.