SLATER <SSI.A.TO> PLANS U.S. MODERNIZATION Slater Industries Inc said it planned a 15 mln dlr modernization of its Slater Steels Corp Fort Wayne specialty bar division in Indiana. It said the modernization would involve replacement of the existing bar mill with a high-speed, quick-change continuous mill. The new facility will lower labor and mill costs and enhance product quality and range, Slater said. Completion date of the new mill was undisclosed.