FOR IMMEDIATE RELEASE                                          AT
THURSDAY, MAY 25, 1995                             (202) 616-2771
                                               TDD (202) 514-1888

                JUSTICE DEPARTMENT APPROVES MERGER
              INVOLVING ASPHALT PAVING MANUFACTURERS

     WASHINGTON, D.C. -- Ingersoll-Rand Company's cash tender
offer, valued at more than $1 billion, to buy Clark Equipment
Company was approved today by the Department of Justice's
Antitrust Division after Ingersoll-Rand sold its asphalt paver
business to a third party who will operate it as a viable on-going business.  
Initially, the Antitrust Division told the
parties that the deal as originally proposed would lessen
competition in the manufacture and sale of medium and large
asphalt pavers since it would have combined two of the five
competitors in the U.S. asphalt paver industry. 
     Asphalt pavers are used in the construction and resurfacing
of streets and highways, parking lots and other asphalt surfaces. 
In 1994, total U.S. sales of medium and large asphalt pavers were
approximately $123 million.  
     Anne K. Bingaman, Assistant Attorney General in charge of
the Antitrust Division, said,  "This transaction as originally
structured would have significantly reduced competition by
combining two of the five competitors in the manufacture and sale
of medium and large asphalt pavers in the United States.  We are
confident, however, that the sale of Ingersoll-Rand's domestic
asphalt paving business to Champion will preserve competition in
this industry to the benefit of purchasers and users of such
equipment." 
     Champion's strength in the road machinery business, as well
as its reputation for quality and previous success in purchasing
the product lines of other companies, indicates that this sale
will preserve competition in the manufacture of medium and large
asphalt pavers, the Department said.  Champion is likely to be
equally or more effective as a competitor than Ingersoll-Rand was
when it operated those businesses, the Department said.  For
example, Champion purchased a compactor company in 1993 and
increased sales substantially in its first full year of
operations.    On May 12, 1995, Ingersoll-Rand sold its U.S.
asphalt paver business to Champion Road Machinery Ltd.,
headquartered in Goderich, Ontario, Canada.  
     Ingersoll-Rand, headquartered in Woodcliff, New Jersey,
manufactures various types of equipment used in excavation and
construction, including asphalt pavers, which it manufactures
through its Road Machinery Division located in Shippensburg,
Pennsylvania.  In 1994, it had net sales of $4.5 billion.  
     Clark Equipment Company, headquartered in South Bend,
Indiana, also manufactures various types of construction
equipment and manufactures asphalt pavers through its subsidiary,
Blaw-Knox Construction Equipment Company, headquartered in
Matoon, Illinois.  It had net 1994 sales of nearly $1 billion. 
     Ingersoll-Rand made its cash tender offer for the stock of
Clark on April 3, 1995.
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