JAPANESE FIRM HAS 10.7 PCT OF SHELDAUL &lt;SHEL>

  Sumitomo Bakelite Co Ltd, a Japanese
  company, told the Securities and Exchange Commission it has
  acquired 325,000 shares of Sheldahl Inc, or 10.7 pct of the
  total outstanding common stock.
      Sumitomo Bakelite said it bought the stock for 4.9 mln dlrs
  for investment purposes.
      Under an between Sumitomo Bakelite and Sheldahl, as long as
  its stake is more than five pct, Sumitomo said it has
  preemptive rights for 60 days following notice of issuance of
  new Sheldahl common stock. As long as its stake is over 10 pct,
  it said it is entitled to Sheldahl board representation.
  

