OLSON INDUSTRIES <OLSN> TO SELL EGG OPERATIONS
Olson Industries Inc said
it signed a letter of intent to sell substantially all of its
remaining egg operations to Sunny Fresh Foods inc.
    Olson said it expects to receive about nine mln dlrs from a
combination of a sale of tangible assets to Sunny Fresh and
realization of intangible and other assets by Olson.
    The transaction is expected to result in a charge for
discontinued operations of about two mln dlrs but is also
expected to generate substantial cash flow to pay off
egg-related indebtedness of about 7.5 mln dlrs and to further
improve working capital.
 Reuter
