SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (date of earliest event reported): June 1, 1995
INLAND STEEL INDUSTRIES, INC.
(Exact name of registrant as specified in its charter)
Delaware 1-9117 36-3425828
(State of Commission File Number IRS Employer
Incorporation) Identification No.)
30 West Monroe Street
Chicago, Illinois 60603
(Address of principal executive offices) Zip Code
(312) 346-0300
(Registrant's telephone number)
<PAGE> - 2 -
Item 5. Other Events.
The Press Release dated June 1, 1995 attached hereto as an exhibit is
incorporated herein by reference in answer to this Item 5.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
INLAND STEEL INDUSTRIES, INC.
Dated: June 5, 1995 By: /S/ David B. Anderson
David B. Anderson
Vice President -
Corporate Development,
General Counsel and Secretary
EXHIBIT INDEX
Exhibit Sequential
Number Description Page Number
_________ ___________ ___________
99.1 Press Release dated June 1, 1995....
Exhibit 99.1
INLAND STEEL INDUSTRIES TEMPORARILY
POSTPONES EARLY REPURCHASE OF SERIES F PREFERRED STOCK
FOR RELEASE JUNE 1, 1995
CHICAGO -- Inland Steel Industries, Inc., announced that it was temporarily
postponing the early repurchase of its Series F redeemable preferred stock
due to an increase in breakage fees. The increase in breakage fees is a
result of the recent rally in the bond market.
Series F is held 100 percent by Nippon Steel Corporation. In March, the
company announced that its Board had authorized the repurchase of its
Series F redeemable preferred stock. Series F is a voting preferred stock
with face value of $185 million and an annual dividend rate of 9.48
percent. At the time of the Board authorization, the breakage fees
associated with the early repurchase were approximately $10 million. Given
today's interest rates, breakage fees have exceeded $13 million.
Chicago-based Inland Steel Industries, Inc., is a materials management,
logistics and technical services company that provides value-added steel
products and materials related services to manufacturers in the automotive,
appliance, furniture, equipment, electric motor and a wide variety of other
industries. Its business units are: Inland Steel Company, the sixth
largest U.S. steel producer, Inland Materials Distribution Group, Inc., the
largest U.S. steel service center operation, comprised of Joseph T. Ryerson
& Son, Inc., and J.M. Tull Metals Company, Inc., and Inland International,
Inc.
