Autoclave Engineers Completes Sales of Autoclave Engineers Group, Unit Instruments Remain Sole Operating Subsidiary; Corporate Offices Relocate to Yorba Linda, CA.YORBA LINDA Yorba Linda (yôr`bə lĭn`də), city (1990 pop. 52,422), Orange co., S Calif., in a region of citrus fruit; inc. 1967. The city has grown tremendously along with the southern California area; its population increased fivefold between , Calif.--(BUSINESS WIRE)--Sept. 25, 1995--Autoclave Engineers, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ACLV ACLV Accrued Leave ACLV Across-Chip Linewidth Variation (semi conductor manufacturing) ), today announced that it has completed the sale of its Autoclave autoclave Vessel, usually of steel, able to withstand high temperatures and pressures. The chemical industry uses various types of autoclaves in manufacturing dyes and in other chemical reactions requiring high pressures. Engineers Group (AEG AEG Aeger (Latin: Sick) AEG Allgemeine Elektrizitäts-Gesellschaft (Common Electricity Company) AEG Aircraft Evaluation Group AEG Association of Engineering Geologists AEG Air Expeditionary Group ), leaving Unit Instruments as the Company's sole operating subsidiary. This concludes the Company's previously announced restructuring to exit the compressor and autoclave business segments in order to exclusively focus on the semiconductor equipment market. The value of the AEG transaction was approximately $16 million. The corporate offices, located in Erie, Pennsylvania, will be closed on Friday, September 29 and will be consolidated into Unit's headquarters in Yorba Linda, California Yorba Linda is a community in Orange County, California, approximately 13 miles northeast of Downtown Santa Ana, and 40 miles southeast of Downtown Los Angeles. As of the 2000 census, the city had a total population of 58,918. . Consolidation of the corporate office is expected to generate annual cost savings of approximately $1 million. Shareholders of ACLV will be asked to vote on a change in the Company's name to Unit Instruments, Inc. at the Annual Meeting of Shareholders, scheduled for Friday, November 10, 1995. Unit Instruments, Inc. is a leading manufacturer of mass flow controllers (MFCs) and other gas process equipment, critical to the semiconductor manufacturing process. The Company provides an extensive line of highly repeatable, accurate and reliable process control products, which are interchangeable with other manufacturers' MFCs. CONTACT: Autoclave Engineers Gary Patten, 714/921-2640 or Morgen-Walke Associates, Inc. Doug Sherk/Jenifer Kirtland/David Gennarelli 415/296-7383 or Jill Ruja/Elisa Grabowski 212/850-5600 |
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