GCA <GCA> COMPLETES FINANCIAL RESTRUCTURING
GCA Corp said it completed its
previously announced plan of financial restructuring under
which Hallwood Group Inc <HWG> took a 14 pct interest in the
company, a maker of semiconductor manufacturing equipment.
    The company said it also implemented a one-for-50 reverse
stock split.
    Under terms of the plan, the company exchanged about 109
mln dlrs in debt to creditors and suppliers for 43 mln dlrs in
cash, and warrants to purchase 2.2 mln shares of its common
stock. GCA also raised 71.7 mln dlrs through the sale of common
stock.
 Reuter
