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Non-Tech : Loewen Group -- Ignore unavailable to you. Want to Upgrade?

To: Lawrence Burg who wrote (240)	2/11/2000 9:41:00 AM
From: Dennis Lefebvre	Respond to of 277

This news is very positive Globe says Loewen creditors pleased Loewen Group Inc (The) LWN Shares issued 74,147,821 Feb 10 close $0.83 Fri 11 Feb 2000 In the News The Globe and Mail reports in its Friday, Feb. 11, edition that the head of a committee of creditors owed $2.2-billion (U.S.) by Loewen Group said he is pleased with the progress the funeral firm is making in trying to emerge from bankruptcy protection in both the United States and Canada. The Globe's Peter Kennedy writes that management and directors of the funeral services company met with creditors in New York Tuesday to discuss strategy and tell them how Loewen plans to overcome the problems it and the industry have faced in recent years. "We feel that they have identified the issues that need to be addressed," said committee head Evan Flaschen. In a move to become more profitable, the company is seeking buyers for 201 funeral homes and 170 cemeteries in the United States. A further 54 locations are to be rationalized either through a merger or restructuring. While the deadline for bids expired Monday, Mr. Flaschen said potential buyers have been given more time to present offers for the U.S. properties, which represent about 24 per cent of Loewen's assets. (c) Copyright 2000 Canjex Publishing Ltd. canada-stockwatch.com