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FINANCING OF $135 MILLION COMPLETED FOR THERMO ELECTRON'S SAN DIEGO COUNTY RECYCLING FACILITY; CONSTRUCTION SCHEDULED TO BEGIN THIS MONTH

FINANCING OF $135 MILLION COMPLETED FOR THERMO ELECTRON'S SAN DIEGO COUNTY RECYCLING FACILITY; CONSTRUCTION SCHEDULED TO BEGIN THIS MONTH
 WALTHAM, Mass., Jan. 6 /PRNewswire/ -- Thermo Electron Corporation (NYSE: TMO) today announced completion of a $135 million financing for construction of a recycling and waste-reduction facility in San Diego County, Calif.
 The financing was through tax-exempt bonds issued by the California Pollution Control Financing Authority, with a letter of credit provided by Union Bank of Switzerland, National Westminster Bank PLC, and Banque Paribas.
 The recycling and waste-reduction center has been designed and will be built by North County Resource Recovery Associates (NCRRA), a wholly owned subsidiary of Thermo Electron. Construction is scheduled to begin later this month, and the facility is expected to be in operation in 1994. NCRRA will operate the facility in a joint venture with Babcock & Wilcox Company under a 24-year service agreement with San Diego County.
 The NCRRA recycling center will be located in San Marcos, Calif., approximately 25 miles northeast of San Diego, and is designed to handle more than 550,000 tons per year of unsorted residential, commercial, and light industrial waste. The facility's design features five waste-processing lines to recover marketable materials for recycling and shred remaining materials for landfill. Shredding results in greater compaction of landfill material.
 "We are pleased to be proceeding with this project, which will benefit nearly a million-and-a-half residents in a fast-growing region," said Jerry P. Davis, president of Thermo Electron's Energy Systems division. "The new recycling and waste-reduction facility will help San Diego County meet its state-mandated recycling goals."
 Thermo Electron develops, manufactures, and markets environmental and analytical instruments, custom-engineered and pre-packaged cogeneration systems, industrial process equipment, biomedical materials and products, and fabricated biomedical and aerospace components. The company also provides metallurgical heat treating, water quality engineering, and analytical laboratory services.
 -0- 1/6/92
 /CONTACT: John N. Hatsopoulos of Thermo Electron, 617-622-1111/
 (TMO) CO: Thermo Electron Corporation ST: Massachusetts, California IN: SU:


SH -- NE005 -- 6771 01/06/92 09:14 EST
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Publication:PR Newswire
Date:Jan 6, 1992
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