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NERCO SIGNS AGREEMENT TO SELL CANADIAN SUBSIDIARY

 PORTLAND, Ore., June 18 /PRNewswire/ -- NERCO Inc. said today that it has reached an agreement in principle with Red Lion Management Ltd. to provide them an option to purchase all of the shares of NERCO Con Mine Ltd. Red Lion Management Ltd. is a Vancouver-based company with interests in real estate, mining and other businesses. Formal documentation of the agreement will be executed next week. The transaction is targeted to close within the next few months.
 NERCO Inc., headquartered in Portland, is an affiliate of Kennecott Corp., both wholly owned by RTZ America Inc.
 -0- 6/18/93
 /CONTACT: John C. Cummings of NERCO, 503-731-6649; or Alexis Fernandez of Kennecott, 801-322-8036/


CO: NERCO Inc.; Red Lion Management Ltd.; Kennecott Corp.; RTZ America
 Inc. ST: Oregon IN: MNG SU: TNM


AL -- SE009 -- 3788 06/18/93 19:52 EDT
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Publication:PR Newswire
Date:Jun 18, 1993
Words:138
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