ASBESTEC TO BUY CONTRACTOR, RECEIVES CONTRACT

  &lt;Asbestec Industries Inc> said
  it signed a letter of intent to buy asbestos abatement
  contractor &lt;P.W. Stephens> for three mln dlrs in cash, stock
  and notes.
      The transaction is expected to be completed early in the
  third quarter of its fiscal year ending September 30, 1987.
      Asbestec also said it expects to sign March six a 900,000
  dlr contract to remove asbestos from a major apartment complex
  in Washington, D.C. The project is scheduled to begin on March
  nine.
  

