DERLAN INDUSTRIES PLANS PRIVATE PLACEMENT
<Derlan Industries Ltd> said it plans to
issue 2.1 mln common shares in a private placement at a price
of 14 dlrs per share for gross proceeds of 29.4 mln dlrs.
    The issue will be placed by McLeod Young Weir Ltd and
Loewen, Ondaatje, McCutcheon and Co Ltd.
    Proceeds will be used by the company to continue its
acquisition program and for internal expansion.
 Reuter
