BankBoston Corp. late last week closed a $140 million credit facility for Russell-Stanley Corp., a steel and plastic drum maker on the prowl for acquisitions. BankBoston was sole arranger for the deal.

The company will use the loan to finance its acquisition of Container Management Services, Simpsonville, S.C., and to fund other acquisitions already in the works, said Robert L. Singleton, chief executive officer of Russell-Stanley. Mr. Singleton added that Russell-Stanley plans to acquire companies that will help it expand its products, services, and geographic presence.

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