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AMDURA NATIONAL DISTRIBUTION COMPANY (ANDCO) CREDITORS REACH AGREEMENT

 AMDURA NATIONAL DISTRIBUTION COMPANY (ANDCO) CREDITORS
 REACH AGREEMENT
 DENVER, Dec. 6 /PRNewswire/ -- AMDURA Corp. (NYSE: ADU) announced today that a settlement has been reached between secured and unsecured creditors for the company's AMDURA National Distribution Co. (ANDCO) subsidiary.
 On Oct. 23, 1991, AMDURA Corp. emerged from Chapter 11, reorganized around its 100-percent owned subsidiaries, The Crosby Group Inc. which manufactures lifting accessories and fittings for wire rope and chain, and The Harris Waste Management Group, which manufactures equipment for the recycling and waste management industry. ANDCO was the last of AMDURA's subsidiaries for which a plan of reorganization had yet to be confirmed.
 "With the signing of this agreement, we can finally see the end of what has been an extremely complex and intricate proceeding," said Wayne E. Waldera, president and chief executive officer. "We are especially pleased to have avoided further lengthy and costly legal proceedings and to have effected a timely settlement that will assure a fair and expeditious distribution to all ANDCO creditors."
 The terms of the settlement call for a major cash distribution to the unsecured creditors, who will receive slightly more than half of the cash in
the estate. The bank group will receive $24 million of the more than $50 million estimated in the estate.
 Creditors will receive notification of the settlement in the near future. Confirmation hearings on the settlement are scheduled for Jan. 23 in Denver.
 -0- 12/6/91
 /CONTACT: Rivian Bell or Jeffrey Lloyd both of Sitrick And Company, 310-788-2850, for AMDURA/
 (ADU) CO: AMDURA Corp.; ANDCO ST: Colorado IN: REA SU:


MC -- DV004 -- 0300 12/06/91 17:57 EST
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Publication:PR Newswire
Date:Dec 6, 1991
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