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MARTECH USA COMPLETES $20.3 MILLION PRIVATE PLACEMENT OF 8-PERCENT CONVERTIBLE SUBORDINATED NOTES DUE 2003

 ANCHORAGE, Alaska, Feb. 25 /PRNewswire/ -- Martech USA Inc. (NYSE: MUS) today announced it had completed the private placement of $20.3 million of its 8-percent Convertible Subordinated Notes due 2003 with institutional investors. The Notes are convertible into shares of the Company's common stock at an initial conversion price of $11 per share. The offering was made through Smith Barney, Harris Upham & Co. Inc. pursuant to Rule 144A and other exemptions under the Securities Act of 1933, as amended. Martech will use the net proceeds of approximately $18.9 million to retire all of the Company's outstanding bank loans (approximately $8.3 million) and to provide working capital for general corporate purposes.
 Martech USA Inc. provides a comprehensive range of environmental remediation as well as specialized marine and construction services worldwide.
 -0- 2/25/93
 /CONTACT: Annette Hamilton, public relations manager, of Martech USA, 907-561-1970/
 (MUS)


CO: Martech USA Inc. ST: Alaska IN: SU:

SW-JH -- SE004 -- 0399 02/25/93 12:55 EST
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Publication:PR Newswire
Date:Feb 25, 1993
Words:163
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