Hanson Industries

Hanson Selling Smith Corona Shares: Hanson PLC, which took over Smith Corona Corp. in 1986, announced that it plans a public offering of up to 15.75 million shares of its subsidiary. Hanson, which said it had filed with the Securities and Exchange Commission for approval of the offering, said it expected the shares to sell for between $23 and $25 each. The proceeds of the offering will go to Hanson, the company said in a statement. If all of the 15.75 million shares are sold, Hanson will retain approximately 46.3% of the stock in typewriter maker Smith Corona.

Announcing the successful conclusion of its offer of $27.50 a share, Hanson Industries said it was notified that 5.6 million shares had been tendered, giving it a total of about 79% of Kaiser. Both Hanson and Kaiser said they did not know whether Los Angeles investor David Murdock had tendered Kaiser shares, previously reported as representing 22% of stock. Murdock could not be reached for comment.

Hanson Industries said Friday that it has agreed to sell most of the Glidden coatings and resins business of its SCM Corp. unit to Britain's largest industrial company, Imperial Chemical Industries PLC, for $580 million. SCM, whose coatings include paints sold under the Glidden and Spred Satin names, was acquired in March by Hanson Industries' parent company, Hanson Trust PLC of Britain, for $930 million. Hanson Industries said it agreed to sell Glidden's U.S.