DALLAS, July 1 /PRNewswire/ -- Global Industrial Technologies, Inc.
(NYSE: GIX) announced today that its cash tender offer for all of the
outstanding shares of common stock of A.P. Green Industries, Inc. (NYSE: APK)
expired at 5:00 p.m., EST, on Tuesday, June 30, 1998. Global also announced
that it has filed a certificate of merger with the State of Delaware to effect
the merger of BGN Acquisition Corp., a wholly-owned subsidiary of Global, with
and into A.P. Green.
Global has been advised by Harris Trust and Savings Bank, Depositary for
the tender offer, that as of 9:30 a.m., EST, today, approximately 7,650,000
shares of common stock of A.P. Green had been validly tendered and not
withdrawn, representing approximately 95% of the outstanding shares of common
stock of A.P. Green. The shares tendered include approximately 11,000 shares
(less than 1% of the outstanding) tendered pursuant to Notices of Guaranteed
Delivery.
Global Industrial Technologies, Inc. is a major manufacturer of
technologically advanced industrial products that support high-growth markets
around the world. Its Harbison-Walker subsidiary will now operate
32 refractory plants in eight countries, including the United States, Canada,
Mexico, Chile, Colombia, Indonesia, the United Kingdom, and Germany.
SOURCE Global Industrial Technologies, Inc.
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Communications, 214-953-4510, or Media: Larry Nance, Manager of
Corporate Relations and Public Affairs, 214-953-4518, both of
Global Industrial Technologies, Inc.
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