Up to $350 million to be spent acquiring homes, cemeteries

August 27, 1998|By BLOOMBERG NEWS

VANCOUVER, British Columbia -- Loewen Group Inc., North America's second-largest funeral services company, said it expects to spend up to US$350 million on acquisitions this year.

That's about 31 percent less than the US$507.7 million it spent buying funeral homes and cemeteries in 1997. Company officials last month said spending would drop this year and next because of rising purchase prices in the United States.

The Burnaby, B.C.-based company is struggling to rein in costs and stabilize its deteriorating finances.

Pub Date: 8/27/98

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