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RAYTHEON COMPLETES EBASCO ACQUISITION FOR $210 MILLION

 LEXINGTON, Mass. Dec. 22 /PRNewswire/ -- Raytheon Company (NYSE: RTN) said today that Raytheon Engineers & Constructors, its wholly-owned subsidiary, has completed the purchase of the principal operating assets of Ebasco Services, Inc., the engineering and construction subsidiary of ENSERCH Corp. (NYSE: ENS), for $210 million in cash.
 Raytheon and ENSERCH announced an agreement for the purchase on Nov. 17. The acquisition includes Ebasco's infrastructure, electric power generation, and construction operations but excludes the environmental division.
 Raytheon Engineers & Constructors made the acquisition to accelerate its growth in the global engineering and construction business. With the addition of the Ebasco units, Raytheon Engineers & Constructors becomes one of the largest engineering and construction firms in the world, with $2.7 billion in annualized sales and more than 28,000 professional and construction workers.
 The company expects the addition of Ebasco will add to commercial profits in 1994.
 Ebasco, headquartered in New York City, and with 28 additional locations in the U.S., is active in the engineering and construction of power plants and infrastructure projects, and in providing quality assurance services in the U.S. and worldwide.
 The Ebasco purchase is Raytheon's third in the engineering and construction field in 1993, following earlier acquisitions of the assets of Gibbs & Hill and Harbert Construction. The acquisition is also Raytheon's second major commercial purchase since August, when the company bought British Aerospace's 125 line of business jets.
 Raytheon Company is a $9 billion diversified technology company with sales in four business segments: Electronics, Aircraft Products, Energy and Environmental, and Major Appliances.
 -0- 12/22/93
 /CONTACT: Ed Powers of Raytheon, 617-860-2415/
 (RTN ENS)


CO: Raytheon Company; Raytheon Engineers & Constructors; Ebasco
 Services, Inc.; ENSERCH Corp. ST: Massachusetts, New York IN: CST SU: TNM


DJ-CM -- NE004 -- 6607 12/22/93 14:00 EST
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Copyright 1993 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Dec 22, 1993
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