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THERMO ELECTRON ANNOUNCES PLAN TO OFFER RIGHTS IN THERMO FIBERTEK SUBSIDIARY TO SHAREHOLDERS

 THERMO ELECTRON ANNOUNCES PLAN TO OFFER RIGHTS IN
 THERMO FIBERTEK SUBSIDIARY TO SHAREHOLDERS
 WALTHAM, Mass., Aug. 24 /PRNewswire/ -- Thermo Electron Corporation (NYSE: TMO) announced that its Thermo Fibertek Inc. subsidiary has filed a registration statement under the Securities Act of 1933 relating to a plan to distribute to Thermo Fibertek shareholders transferable subscription rights to purchase additional shares of Thermo Fibertek common stock. Thermo Electron then expects to distribute the subscription rights it receives, as Thermo Fibertek's majority shareholder, to holders of Thermo Electron common stock. Assuming the successful completion of this rights offering, Thermo Electron may consider structuring future spin offs in this manner.
 A record date will be established to determine those Thermo Electron shareholders entitled to receive the rights. It is anticipated that the record date would be in early October, with the rights offering commencing shortly thereafter. Once the registration statement becomes effective, the terms of the offering and instructions for exercising or selling rights will be described in a prospectus that will be mailed to eligible Thermo Fibertek and Thermo Electron shareholders. The Thermo Fibertek common stock and the rights are expected to be listed for trading on the American Stock Exchange. A copy of the prospectus, when available, can be obtained by contacting John N. Hatsopoulos, Thermo Electron Corporation, 81 Wyman Street, P.O. Box 9046, Waltham, Mass., 02254-9046, 617-622-1111.
 Thermo Fibertek provides a wide range of products and technologies for the international paper, web processing, converting, and graphic arts industries, and is a leading supplier of systems for recycling paper.
 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.
 A registration statement relating to these securities has been filed with the securities and exchange commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This announcement shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation, or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
 -0- 8/24/92
 /CONTACT: John N. Hatsopoulos of Thermo Electron, 617-622-1111/
 (TMO) CO: Thermo Electron Corporation ST: Massachusetts IN: SU:


DD -- NE004 -- 2509 08/24/92 10:27 EDT
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Publication:PR Newswire
Date:Aug 24, 1992
Words:432
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