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AUTOTROL AND WICOR TO MERGE

 AUTOTROL AND WICOR TO MERGE
 MILWAUKEE, Dec. 12 /PRNewswire/ -- The boards of directors of WICOR,


Inc. (NYSE: WIC) and Autotrol Corporation (NASDAQ-NMS: AUTR) jointly announced today that they have agreed in principle to a merger, with Autotrol becoming a wholly owned subsidiary of WICOR. WICOR is the Milwaukee-based parent of Wisconsin Gas Company and Sta-Rite Industries, Inc.
 In the stock-for-stock agreement, shareholders of Autotrol will receive 0.674 shares of WICOR common stock for each share of Autotrol stock. The total value of the stock transaction at WICOR's closing price today is about $46 million.
 The proposed merger agreement will be submitted to Autotrol's shareholders for approval. The transaction also is subject to certain regulatory approvals and other conditions.
 WICOR intends to record the transaction as a "pooling of interest." It is expected that the transaction will be completed early next year on a "tax-free" basis.
 Autotrol is based in Milwaukee, and is a manufacturer and distributor of water treatment controls, valves and measuring devices. The company's 1990 sales were about $37 million. International sales accounted for about 30 percent of the total.
 "Autotrol is an excellent strategic fit with Sta-Rite, our pump and water processing equipment subsidiary," said Stuart W. Tisdale, president and chief executive officer of WICOR. "Autotrol's leadership in the water treatment industry creates an opportunity for Sta-Rite to broaden its market reach both at home and overseas. In addition, Autotrol is a profitable company with a strong growth outlook."
 Tisdale said WICOR intends to retain Autotrol's current management. "This merger is important because it keeps a Wisconsin company in Wisconsin, which benefits the state's overall economy and job picture," he said.
 Two hundred of Autotrol's 260 employees are located in Milwaukee. The company also has operations in Minnesota, Iowa, France and the Far East.
 Currently, there are approximately 2.9 million shares of Autotrol common stock and 13.9 million shares of WICOR common stock outstanding. WICOR is traded on the New York Stock Exchange under the symbol WIC; Autotrol is traded over the counter under the symbol AUTR.
 WICOR is a Milwaukee-based holding company. Its primary subsidiaries are Wisconsin Gas Company, the state's largest distributor of natural gas, and Sta-Rite Industries, Inc., a leading manufacturer of pumps and water processing equipment for markets throughout the world.
 -0- 12/12/91
 /CONTACT: (Media) Kathleen Sieja, 414-291-6950 or (Analysts) John P. Hoy, 414-291-6568, both of WICOR, Inc.; or (Media) James Schwerdt of Autotrol, 414-228-9100/
 (WIC AUTR) CO: WICOR, Inc.; Autotrol Corporation ST: Wisconsin IN: UTI SU: TNM


JG-KK -- DE032 -- 2172 12/12/91 17:37 EST
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Publication:PR Newswire
Date:Dec 12, 1991
Words:429
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