<ARTICLE>                                5
          <MULTIPLIER>                         1,000
                 
                                                           
          <PERIOD-TYPE>                                       3-MOS
          <FISCAL-YEAR-END>                                   DEC-31-1997
          <PERIOD-END>                                        MAR-31-1997
          <CASH>                                                          4,460
          <SECURITIES>                                                    4,658
          <RECEIVABLES>                                                  75,422
          <ALLOWANCES>                                                 (23,100)
          <INVENTORY>                                                   176,868
          <CURRENT-ASSETS>                                                    0
          <PP&E>                                                        187,011
          <DEPRECIATION>                                                      0
          <TOTAL-ASSETS>                                                444,328
          <CURRENT-LIABILITIES>                                               0
          <BONDS>                                                       154,591
          <COMMON>                                                       12,715
          <PREFERRED-MANDATORY>                                               0
          <PREFERRED>                                                         0
          <OTHER-SE>                                                    144,750
          <TOTAL-LIABILITY-AND-EQUITY>                                  444,328
          <SALES>                                                        22,704
          <TOTAL-REVENUES>                                               34,903
          <CGS>                                                          15,165
          <TOTAL-COSTS>                                                  21,600
          <OTHER-EXPENSES>                                                5,294
          <LOSS-PROVISION>                                                    0
          <INTEREST-EXPENSE>                                              2,641
          <INCOME-PRETAX>                                               (1,987)
          <INCOME-TAX>                                                        0
          <INCOME-CONTINUING>                                           (1,987)
          <DISCONTINUED>                                                      0
          <EXTRAORDINARY>                                                     0
          <CHANGES>                                                           0
          <NET-INCOME>                                                  (1,987)
          <EPS-PRIMARY>                                                  (0.22)
          <EPS-DILUTED>                                                  (0.22)
          <FN>
          NOTE:   Total Current Assets and Total Current Liabilities  are not
                  applicable because Registrant does not present a classified
                  balance sheet.

                                     16

          </TABLE >