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QUANTUM CALLS $1.15 BILLION OF BONDS FOR REDEMPTION

 NEW YORK, Oct. 1 /PRNewswire/ -- Quantum Chemical Corporation, which became an indirect wholly owned subsidiary of Hanson PLC (NYSE: HAN) upon completion of a merger approved by its stockholders yesterday, announced that it would redeem, on October 30, 1993, all of the outstanding notes of the following series:
 Redemption Price per $1,000
Series Principal Amount
 8-7/8 percent Notes due May 1, 1996 $1,044.13 ($1,000 principal and
 $44.13 accrued interest)
 8-7/8 percent Sinking Fund Debentures $1,076.68 ($1,000 principal,
 due March 1, 2017 $62.13 premium and $14.55
 accrued interest)
 9-7/8 percent Sinking Fund Debentures $1,071.16 ($1,000 principal,
 due April 1, 2016 $63.21 premium and $7.95
 accrued interest)
 10-1/2 percent Sinking Fund Debentures $1,102.83 ($1,000 principal,
 due January 15, 2018 $72.20 premium and
 $30.63 accrued interest)
 10-7/8 percent Sinking Fund Debentures $1,084.70 ($1,000 principal,
 due October 1, 2018 $75.94 premium and $8.76
 accrued interest)
 11 percent Sinking Fund Debentures $1,118.86 ($1,000 principal,
 due July 1, 2018 $82.50 premium and $36.36
 accrued interest)
 The aggregate principal amount of the six series to be redeemed is $1.15 billion. This debt carries a weighted average interest rate of over 10 percent.
 Most of Quantum's other publicly held debt is not currently redeemable. Quantum is reviewing its alternatives with respect to such debt and will comply with the offer to purchase requirements of certain of the issues arising from Quantum's change of control. Quantum and its affiliates may make open market and private purchases from time to time.
 Quantum Chemical Corporation is the largest U.S. manufacturer of polyethylene and the second largest domestic retail distributor of propane.
 Hanson PLC is a British-American industrial management corporation. In the US, Hanson Industries' operations include Peabody Coal, SCM Chemicals, Cavenham Forest Industries, Grove Crane, Jacuzzi Whirlpool Baths, Tommy Armour Golf, Ames Tools, Farberware Cookware and Hanson Office Products Group, among others.
 In the United Kingdom, Hanson's holdings include Imperial Tobacco, ARC Aggregates, London Brick, Butterley Brick, and Smith Meters.
 -0- 10/01/93
 /CONTACT: Robert M. Brier, treasurer-Hanson Industries, 908-603-6651/
 (HAN)


CO: Quantum Chemical Corporation; Hanson PLC ST: New York IN: CHM SU:

LG -- NY058 -- 7847 10/01/93 13:57 EDT
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Publication:PR Newswire
Date:Oct 1, 1993
Words:389
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