| DENNISON MANUFACTURING <DSN> TO SELL PAPER UNIT | |
| Dennison Manufacturing Co | |
| said it has signed a letter of intent to sell its Dunn Paper Co | |
| subsidiary to James River Corp <JR> for an undisclosed amount | |
| of cash, resulting in a first quarter charge against earnings. | |
| The company saiud the loss on the sale may be partly | |
| reduced by contingent payments over the next five years and | |
| will in the first quarter be more than offset by the gain from | |
| the previously-announced sale of its Hygeia Sciences Inc | |
| shares. | |
| Dunn had sales last year of about 65 mln dlrs. | |
| In Richmond, Va., James River said closing is expected by | |
| the end of April, subject to approval by both boards and on the | |
| reaching of satisfactory labor agreements. | |