INLAND STEEL INDUSTRIES OFFERING
INLAND STEEL INDUSTRIES OFFERING CHICAGO, June 9 /PRNewswire/ -- Inland Steel Industries, Inc.
(NYSE: IAD), today filed a registration statement with the Securities and Exchange Commission covering the proposed offering of 4,000,000 shares of its common stock. The company intends to sell shares both domestically and internationally.
Underwriters for the offering, Goldman, Sachs & Co. and The First Boston Corporation, have been granted an option to purchase an additional 600,000 shares to cover any overallotments. The net proceeds from the sale will be used for general corporate purposes, including capital expenditures and the repayment of short-term debt. Inland Steel Industries is a holding company with subsidiaries operating in two related business segments: Integrated Steel and Steel Service Centers. It is the parent company of Inland Steel Co. and Inland Materials Distribution Group, Inc., comprised of Joseph T. Ryerson & Son, Inc., and J.M. Tull Metals Co., Inc. The company has approximately 30,900,000 shares of common stock outstanding. -0- 6/9/92 /CONTACT: Robert H. Lefley of Inland Steel, 312-899-3170/ (IAD) CO: Inland Steel Industries Inc. ST: Illinois IN: MNG SU: OFR
SM -- NY041 -- 8375 06/09/92 12:30 EDT
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|Date:||Jun 9, 1992|
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