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UNITED DOMINION COMPLETES DEBT PRIVATE PLACEMENT

 UNITED DOMINION COMPLETES DEBT PRIVATE PLACEMENT
 CHARLOTTE, N.C., Sept. 22 /PR Newswire/ -- United Dominion


Industries Ltd. (TSE NYSE: UDI) today announced that it has issued $75 million of investment grade private placement debt to a group of U.S. insurance companies. Proceeds from the 10-year financing will be used to pay off shorter term bank borrowings.
 William R. Holland, chairman and chief executive officer, said that the new debt placement enables the company to take advantage of today's favorable interest rates, while extending the average maturity of the company's debt and freeing additional bank credit facilities.
 First Boston and Continental Bank acted as agents for the issue.
 United Dominion is a manufacturing, engineering and construction company serving construction and industrial equipment markets worldwide. The company operates 53 plants and has approximately 10,500 employees.
 -0- 9/22/92
 /CONTACT: Robert L. Shaffer of United Dominion at 704-347-6875//
 (UDI) CO: United Dominion Industries Ltd. ST: North Carolina IN: CST SU:


CM -- CH006 -- 2238 09/22/92 13:53 EDT
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Publication:PR Newswire
Date:Sep 22, 1992
Words:169
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