Printer Friendly

INTERMAGNETICS GENERAL CORPORATION ANNOUNCES ACTIONS TAKEN AT ITS RECENT BOARD MEETING

 GUILDERLAND, N.Y., June 2 /PRNewswire/ --Intermagnetics General Corporation's board of directors (AMEX: IMG) declared a three percent stock dividend yesterday at its first meeting of the new fiscal 1994 year that began May 31, 1993. The dividend is payable on Sept. 1, 1993, to shareholders of record on Aug. 2, 1993. Each shareholder will receive three shares of IGC Common Stock for every 100 shares owned on the record date. Provisions will be made for payment in cash for fractional shares, if any.
 Another action taken by the board was the election of a new director, Sheldon Weinig, D.Sc., vice chairman, Sony Engineering & Manufacturing of America and chairman and founder of Materials Research Corporation.
 The board of directors also approved preliminary agreements with a major domestic and a major international corporation to explore the commercialization of the company's previously announced developments of direct replacement refrigerants. These can replace ozone depleting Freon-based refrigerants for use in refrigeration and automobile air conditioning equipment. Intermagnetics believes that its technology is both unique and patentable.
 Carl H. Rosner, the company's chairman of the board and president, indicated that "additional tests are in progress and that sample quantities of the new refrigerant could be made available in the near future. Full commercialization still requires successful completion of such tests and obtaining regulatory and environmental approvals now being sought."
 Intermagnetics General (AMEX: IMG) is a leading manufacturer of superconducting magnets, wire and associated ultra-low temperature refrigeration equipment, the combination of which is especially useful in medical diagnostic imaging (MRI) systems. The company is dedicated to the development and commercialization of applied superconducting systems and also manufactures permanent magnet systems and material separation equipment.
 -0- 6/2/93
 /CONTACT: Carl H. Rosner, president of Intermagnetics General Corporation, 518-456-5456/
 (IMG)


CO: Intermagnetics General Corporation ST: New York IN: SU: DIV

KL -- CL013 -- 4420 06/02/93 11:31 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jun 2, 1993
Words:313
Previous Article:BINDLEY WESTERN INDUSTRIES DECLARES CASH DIVIDEND
Next Article:USAIR FILES WITH U.S. DEPARTMENT OF TRANSPORTATION TO PROVIDE SERVICE TO GRAND CAYMAN FROM CHARLOTTE AND TAMPA
Topics:


Related Articles
INTERMAGNETICS GENERAL CORPORATION ANNOUNCES COMPLETION OF PLACEMENT OF $30 MILLION CONVERTIBLE SUBORDINATED DEBENTURES
INTERMAGNETICS GENERAL CORPORATION ANNOUNCES SECOND QUARTER RESULTS AND OTHER DEVELOPMENTS
INTERMAGNETICS' PRESIDENT CITES STRONG FUTURE GROWTH PROSPECTS
INTERMAGNETICS ANNOUNCES STOCK SPLIT AND EXTENSION OF PRESIDENT'S EMPLOYMENT AGREEMENT
INTERMAGNETICS TO RECEIVE U.S. DEPARTMENT OF COMMERCE AWARD FOR RESEARCH PROJECT WITH DUPONT
INTERMAGNETICS WELCOMES HITACHI AS A NEW MRI MAGNET CUSTOMER
INTERMAGNETICS GENERAL CORPORATION ANNOUNCES 2% STOCK DIVIDEND
Intermagnetics General Corporation Reaffirms Stock Buy-Back Program
Intermagnetics General Forms Strategic Alliance with KryoTech, Inc.
Intermagnetics General Expands Stock Repurchase Program

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters