HANSON <HAN> TO BUY INT'L PROTEIN <PRO> STOCK
International Proteins Corp said
it has agreed to sell in a private placement 330,000 common
shares at 11.75 dlrs a share to a U.S. subsidiary of Hanson
Trust Plc.
    In addition, David Clarke the president of another Hanson
Trust subsidiary, Hanson Industries, will be named chairman of
International Proteins's executive committee upon his election
to the board at the annual meeting.
    International Proteins recently acquired Clarke's family
business, Great South Beach Sales Co, for 900,000 restricted
common shares of which 350,000 have been issued to date.
    International Proteins said its agreement with Hanson Trust
is subject to stockholder approval at the annual meeting which
is expected to be held in June.
    The company said Hanson Trust is purchasing the stock for
investment purposes, adding the agreement includes restrictions
on purchase or sale of the company by Hanson for the next five
years.
    International Proteins said it will use the proceeds to
expand domestic operations.
    The company has about 2.1 mln shares outstanding.          
 
 Reuter
