EXHIBIT 99.1
CONTACT PERSON:
Robert Hynes or
Monica Burrows
(212) 355-5200
FOR IMMEDIATE RELEASE
WHX CORPORATION AGREES TO SELL UNIMAST INCORPORATED
New York - June 25, 2002 - WHX Corporation (NYSE: WHX) announced
today that it has signed a purchase agreement to sell the stock of Unimast
Incorporated, its wholly-owned subsidiary, to Worthington Industries, Inc. for
$95 million in cash. The transaction is expected to close promptly after the
expiration of the applicable waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, which are
intended to be covered by the safe harbors created thereby. Investors are
cautioned that all forward-looking statements involve risks and uncertainty.
Although WHX believes that the assumptions underlying the forward-looking
statements contained herein are reasonable, any of the assumptions could be
inaccurate, and therefore, there can be no assurance that the forward-looking
statements included in this press release will prove to be accurate. In light of
the significant uncertainties inherent in the forward-looking statements
included herein, the inclusion of such information should not be regarded as a
representation by WHX or any other person that the objectives and plans of WHX
will be achieved.
