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Published: Wednesday, 7/10/2002

Meeting on Chase buyout expected in late summer

MONTPELIER - Shareholders of Montpelier-based Chase Industries, Inc., could receive invitations to a special shareholder meeting to consider a buyout offer from Olin Corp., of Norwalk, Conn., by the end of July, John Steadman, Chase's president and chief executive officer, said yesterday.

If all goes as expected, the meeting will be held in late August or early September, Mr. Steadman said, adding the meeting probably will be in New York City, where its largest shareholder, Citicorp Venture Capital - owner of about 48 percent of the stock - is headquartered.

Both Chase and Olin are awaiting approval of their proxy statements for the special meetings from the U.S. Securities and Exchange Commission.

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