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BRIEFLY

December 24, 1987

Kaiser Steel Corp. says it is awaiting approval of two deals that should bring the bankrupt former steelmaker needed cash. A federal bankruptcy judge in Denver has approved the sale of certain assets from Kaiser's steel fabrication plant in Fontana for about $1.1 million in cash to some stockholders of Northwest Pipe and Casing Co. of Portland, Ore. The deal is expected to close by year-end if financing arrangements are approved. Kaiser will use proceeds of that sale to pay off creditor Meritor Bank of Philadelphia, which is owed about $300,000, and to reduce its $4.8-million debt to GATX Leasing Corp. of San Francisco.

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