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Australian Firm Will Invest in Home Builder

April 12, 1987

Jennings Industries Ltd., of Australia, has agreed to invest more than $30 million in Santa Barbara-based A-M Homes, according to James B. Araujo, A-M president.

Araujo said that the infusion of new capital will reduce the firm's need for joint venturing. Jennings will gain about 45% ownership in A-M.

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