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March 17, 1987

GCA’S SHAREHOLDERS APPROVE REORGANISATION PLAN

By CBR Staff Writer

GCA Corp is almost out of the woods on its reorganisation plan, after holders of a small majority of shares – 51%, but 43% were not voted either way – approved the plan, which calls for the Andover, Massachusetts wafer stepper maker to raise $48m in a rights issue to holders and another $24m from industrial investors Sumitomo of Japan and Matra of France: the company now looks to complete the $72m re-financing exercise within a month.

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