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SELAS CORPORATION COMPLETES RESISTANCE TECHNOLOGY ACQUISITION

 DRESHER, Pa., Oct. 21 /PRNewswire/ -- Selas Corporation of America (AMEX: SLS) announced today that it has finalized its previously announced acquisition of Resistance Technology, Inc., Arden Hills, Minn.
 Stephen F. Ryan, president and chief executive officer of Selas, said that the corporation acquired 100 percent of the shares of RTI, a $20 million manufacturer and supplier of mircominature hearing instrument components and plastic insert moldings. RTI will operate as a wholly owned subsidiary of Selas.
 "We look for RTI to be a stable contributor to revenue and earnings, helping to buffer them from business cycles that affect the capital goods segment of Selas' operations," Ryan said. "We also see favorable growth opportunity for RTI in the expanding market for hearing aid products."
 As previously announced, Selas paid $22,250,000 for the shares of RTI. Of that price, $2.3 million was paid in Selas stock, $1.8 million in a Selas promissory note, and the balance in cash, a portion of which was raised through a bank loan. RTI employs 251 people in two plants in Minnesota and has 77 percent of its sales in the United States and 23 percent internationally.
 Selas is an international design, development, engineering and manufacturing company.
 /delval/
 -0- 10/21/93
 /CONTACT: R.W. Ross of Selas, 215-283-8253/
 (SLS)


CO: Selas Corporation of America; Resistance Technology, Inc. ST: Pennsylvania, Minnesota IN: SU: TNM

MJ-MK -- PH015 -- 5109 10/21/93 11:06 EDT
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Publication:PR Newswire
Date:Oct 21, 1993
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