HARNISCHFEGER <HPH> OFFERING 3.5 MLN SHARES
Harnischfeger Industries Inc
said it is offering 3.5 mln shares of common stock at 17 dlrs
per share, starting today.
    The crane and material handling equipment maker said 2.5
mln shares are being offered in the U.S. through an
underwriting group led by Shearson Lehman Brothers Inc and
Merrill Lynch Capital Markets <MER>.
    The rest, it said, is being offered through an
international underwriting group led by Shearson Lehman
Brothers International Inc and Merrill Lynch International and
Co.
    Harnischfeger said it will use the offering's approximately
56.7 mln dlrs in proceeds to reduce the debt it incurred by
acquiring Syscon Corp.
    The company added it granted the underwriters the option to
acquire an additional 525,000 shares the cover overallotments.
 Reuter
