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TRANSCISCO EMERGES FROM BANKRUPTCY

 SAN FRANCISCO, Sept. 7 /PRNewswire/ -- Transcisco Industries (AMEX: TNIA TNIB) today announced that last Friday the court confirmed its plan to emerge from Chapter 11 Bankruptcy.
 In making the announcement, Transcisco's president, Steven L. Pease noted, "This is the culmination of a very long and expensive process. Through it all," he said, "Transcisco's operations have performed in such an outstanding fashion that our shareholders will retain more than 90 percent of the company's equity. And while we will deliver our 3.4 million PLM International shares, and $3 million of the $5 million note receivable from PLM, to Transcisco's bondholders in cancellation of $16.3 million in debt, Transcisco will retain all three of its operating businesses: the railroad equiptment maintenance company, the railcar leasing company and the international trading company -- which owns 20 percent of a highly successful Russian railcar leasing and management company. In short," he said, "this is a highly unusual and successful outcome to a Chapter 11 process."
 He went on to thank the employees, customers, vendors and directors of the company who have been so supportive throughout the process. He also praised the court for the determination with which it moved the process to a successful culmination.
 Transcisco Industries operates railcar maintenance facilities through its subsidiary, Transcisco Rail Services, railcar leasing operations through its subsidiary Transcisco Leasing Co., and through its subsidiary, Transcisco Trading Co., owns 20 percent of SOVFINAMTRANS, a Russian leasing and management company that operates 4,000 tank cars (1,000 of which utilize Transcisco's proprietary Unitemp heating system).
 -0- 9/7/93
 /CONTACT: Robert W. Laversin, vice president and chief financial officer, of Transcisco, 415-477-9788/
 (TNIA TNIB)


CO: Transcisco Industries ST: California IN: TRN SU:

AL-JH -- SE012 -- 9356 09/07/93 13:09 EDT
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Publication:PR Newswire
Date:Sep 7, 1993
Words:293
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