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JWP OFFERS TO PURCHASE REMAINING SHARES OF RESOURCE RECYCLING TECHNOLOGIES

 JWP OFFERS TO PURCHASE REMAINING SHARES
 OF RESOURCE RECYCLING TECHNOLOGIES
 BINGHAMTON, N.Y., March 4 /PRNewswire/ -- Resource Recycling Technologies, Inc. (AMEX: RRT), announced today that its board of directors has received an offer from JWP Inc. (NYSE: JWP), to acquire all of the outstanding common stock of RRT not owned by it. JWP is the owner of approximately 34 percent of the outstanding common stock of RRT.
 The JWP offer states that the acquisition would be structured as a tax free merger of RRT with a subsidiary of JWP in which holders of common stock of RRT would receive one-third of a share of JWP common stock for each share of RRT common stock. On March 3, 1992, the closing price of JWP common stock was $18.50 and the closing price of RRT common stock was $6.125.
 The JWP proposal is subject to approval by the board of directors and stockholders of RRT and to regulatory approval. RRT has scheduled a board of directors meeting for Thursday, March 5, to review the proposal.
 -0- 3/4/92
 /CONTACT: Lawrence J. Schorr of Resource Recycling Technologies, 607-798-7137/
 (RRT JWP) CO: Resource Recycling Technologies Inc.; JWP Inc. ST: New York IN: SU: TNM


SM-KW -- NY039 -- 4878 03/04/92 10:40 EST
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Publication:PR Newswire
Date:Mar 4, 1992
Words:212
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