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Gold/Mining/Energy : Derlan (T.DRL) -- Ignore unavailable to you. Want to Upgrade?

To: edward harris who wrote (104)	12/22/1998 2:02:00 PM
From: Herb Duncan	Read Replies (1) \| Respond to of 319

FYI DECEMBER 22, 1998 Derlan Announces Divestment Of Two Companies TORONTO, ONTARIO--Derlan Industries Limited today completed the first divestments in its program announced last month to focus on its growing aerospace and pump businesses. Derlan has sold Roberts PolyPro Inc. of Charlotte, North Carolina and Brenton Engineering Company of Alexandria, Minnesota for gross proceeds of approximately $40 million. Proceeds will be used to eliminate bank debt and for general corporate purposes. These two companies manufacture production equipment and plastic products for the consumer products and packaging industry. "We are pleased that these first divestments are finalized," said Dermot Coughlan, CEO and Chairman of Derlan. "This completes almost a third of the $125 million in planned divestments announced a month ago. Negotiations for further divestments are proceeding." Derlan Industries is an industrial corporation, manufacturing products for the aerospace and pump industries. The company has operations in Canada, the United States, Mexico and Germany. Its shares are listed on the Toronto Stock Exchange under the symbol DRL. -