BOWER CHANGES NAME, RESTRUCTURES LOAN
<Bower industries Inc> said
it changed its name to Metalclad Corp and has restructured a
loan agreement with its bank.
    Under the pact, a 3.5-mln-dlr revolving credit line will be
converted to a 1.8-mln-dlr six year note and a 1.7-mln-dlr
revolving line of credit.
    The company said it is also restructuring a 4,011,000-dlr
debt to another creditor, whereby two mln dlrs will be
forgiven, 1,950,000 dlrs will be converted into two long-term
notes due April, 1989 and 61,000 dlrs has been included in a
line of credit.
 Reuter
