ORMAND INDUSTRIES <OMD> UNIT TO REPAY DEBT
Ormand Industries INc said its
General Can Co Inc unit has finalized all transactions needed
to repay about 3.3 mln dlrs of past-due accounts to its
unsecured lenders.
    The plan calls for payment of about 1.5 mln dlrs in cash
and the issuance of a new class of preferred stock by Ormand
Industries.
    The company said it anticipates full distribution to the
creditors during March.
 Reuter
