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MASCOTECH, INC. PROPOSES TO OFFER $100 MILLION DIVIDEND ENHANCED CONVERTIBLE STOCK

 TAYLOR, Mich., June 23 /PRNewswire/ -- MascoTech, Inc., (NYSE: MSX)which effective today changed its name from Masco Industries, intends to offer $100 million of a convertible preferred stock in the form of a four-year security known as Dividend Enhanced Convertible Stock (DECS). DECS is a new convertible security developed by Salomon Brothers Inc. MascoTech intends to use the net proceeds from the offering to pay down existing debt. Salomon Brothers Inc., Prudential Securities Incorporated and Smith Barney, Harris Upham & Co. Incorporated will manage the offering and will provide copies of the Prospectus Supplement relating to the offering upon request.
 MascoTech manufactures transportation-related and other commercial and specialty products.
 -0- 6/23/93
 /CONTACT: Kenneth Zak of MascoTech, Inc., 313-374-6386/
 (MSX)


CO: MascoTech, Inc. ST: Michigan IN: SU: OFR

KE -- DE014 -- 4984 06/23/93 11:47 EDT
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Publication:PR Newswire
Date:Jun 23, 1993
Words:137
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