CHICAGO PACIFIC <CPA> TO REPURCHASE NOTES
Chicago Pacific Corp chairman Harvey
Kapnick told analysts that he expects within the next year to
repurchase about 25 mln dlrs of the company's 200 mln dlr issue
of 14 pct subordinated notes.
    To date the company has repurchased about 60 mln of these
notes.
    "This will have a beneficial effect on our net income but
the effects in 1987 have already been anticipated in estimates
for 1987," Kapnick said.
    Earlier, Kapnick said that analysts' 1987 projections of 31
to 35 mln dlrs or 3.10 dlrs to 3.40 dlrs for earnings for
operations are reasonable. These compare to 2.30 dlrs or 22 mln
dlrs for 1986.
    Since November 1985, Chicago Pacific has acquired the
<Hoover Co> and <Rowenta>, both appliance companies and
furniture companies <Kippinger/Pennsylvania House Group Inc> 
and the <McGuire Co>.
    The company spent a total of 724.8 mln dlrs on
acquisitions.
   
    "We believe our balance sheets provides us with about 300
mln dlrs for future acquisitions,"  Kapnick said.
    Kapnick also said he expects sales of the company's
appliance division to increase 17 pct from the 915.7 mln dlrs
reported in 1986.
    Kapnick further said the 67 mln dlrs of trademarks and
patents will be reduced to 40 mln dlrs due to net loss
carryforwards of acquired companies which were offset against
these assets as required by current accounting principles.
 Reuter
