OTHER NEWS - July 1, 1993

Hanson to Buy Quantum Chemical: Hanson, the Anglo-American industrial conglomerate, said it has agreed to buy Quantum Chemical Corp. for stock and assumed debt that makes the deal worth $3.2 billion. Quantum Chemical is the largest U.S. manufacturer of the plastics component polyethylene, a leading manufacturer of industrial chemicals and the nation’s second-largest retail distributor of propane, Hanson said. It said it will issue stock in the form of American depository receipts to Quantum shareholders at a value of $20 for each share of Quantum. Quantum stock shot up $6.50 to $19 a share on the New York Stock Exchange. Hanson will also assume $2.5 billion in debt at Quantum, which is headquartered in New York but scheduled to move to Cincinnati.