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SERV-TECH ANNOUNCES $15 MILLION PRIVATE PLACEMENT

 HOUSTON, June 25 /PRNewswire/ -- Serv-Tech, Inc. (NASDAQ: STEC) announced yesterday, June 24 that it completed the sale of $15 million in 8.41 percent senior unsecured notes to four insurance companies in a private placement. The notes mature on June 15, 2003. The proceeds from the senior notes will be used to retire amounts presently outstanding under the company's revolving bank credit agreement and for general corporate purposes.
 John M. Slack, vice president-finance, stated, "The issuance of $15 million in fixed rate, long-term debt has increased significantly our ability to finance the growth of our business. We believe it also demonstrates the financial strength of Serv-Tech and the strong support we have from the financial community."
 Serv-Tech provides specialty maintenance, construction and environmental services to the petrochemical, hydrocarbon processing and pulp and paper industries in the United States and Europe.
 -0- 6/25/93
 /CONTACT: John M. Slack of Serv-Tech, Inc., 713-644-9974/
 (STEC)


CO: Serv-Tech, Inc. ST: Texas IN: SU: OFR

WB -- NY027 -- 5711 06/25/93 12:15 EDT
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Publication:PR Newswire
Date:Jun 25, 1993
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