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INTERNATIONAL TECHNOLOGY CORP. ANNOUNCES COMPLETION OF $60 MILLION 7 PERCENT CONVERTIBLE PREFERRED STOCK OFFERING

 TORRANCE, Calif., Sept. 27 /PRNewswire/ -- International Technology Corp. (IT) (NYSE: ITX) announced today the completion and closing of its public offering at $25 per share of 2,400,000 Depositary Shares, each representing 1/100th of a share of 7 Percent Cumulative Convertible Exchangeable Preferred Stock. The offering was made through Smith Barney Shearson Inc.
 The net proceeds of $57,900,000 received by the company at the closing will be used to reduce outstanding indebtedness by redeeming at par value a portion of its 9 3/8 Percent Senior Notes due 1996 and by paying down amounts outstanding under its revolving credit facility.
 International Technology Corp., based Torrance, is a leading environmental management company providing services to government and industry. The company's common stock is traded on the New York Stock Exchange under the symbol ITX. The company's Depositary Shares are traded on the New York Stock Exchange under the symbol ITX pr.
 -0- 9/27/93
 /CONTACT: Anthony J. DeLuca or Pat Boldt, 310-378-9933/
 (ITX)


CO: International Technology Corp. ST: California IN: ENV SU: OFR

LS-MF -- LA037 -- 6166 09/27/93 21:03 EDT
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Publication:PR Newswire
Date:Sep 27, 1993
Words:186
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