BOLIDEN TAKES OVER ALLIS-CHALMERS DIVISION
Swedish mining and metals group
Boliden AB <BLDS ST> said it would buy the mining equipment
operations of the U.S. Allis-Chalmers Corp <AH.O>, amounting to
more than 50 pct of group sales, for 600 mln crowns.
    Boliden president Kjell Nilsson told a news conference the
acquisition of the Allis-Chalmers unit, which he described as
the world's leading producer of equipment for the mineral
processing industry, would yield positive synergy effects for
Boliden mining, metals and engineering operations.
    Nilsson said the takeover also will provide opportunities
to cooperate with the mining and materials handling operations
of Boliden's parent company, <Trelleborg AB>.
    He said Allis-Chalmers was selling out because it needed
new cash after suffering big losses in its farm equipment
operation.
    The deal is subject to approval by Allis-Chalmers' annual
meeting, company officials said.
 REUTER
