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Metalclad Corp.: The firm said Thursday that...

TIMES STAFF WRITER

Metalclad Corp.: The firm said Thursday that it had raised $6.9 million through a private placement of 2.3 million shares of its stock with 20 European institutional investors.

The placement gives Metalclad’s new investors a 17% stake in the Newport Beach company.

The company, which develops hazardous waste treatment facilities in Mexico, said that it will use the proceeds to expand its Mexican subsidiary, Quimica Omega, by opening nine new offices in that country by March, 1995.


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