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THERMO PROCESS SYSTEMS ANNOUNCES INTENT TO ACQUIRE THERMAL EQUIPMENT CORPORATION

 WALTHAM, Mass., July 8 /PRNewswire/ -- Thermo Process Systems Inc. (AMEX: TPI) has signed a letter of intent to acquire Thermal Equipment Corporation of Torrance, California. Thermal Equipment manufactures a range of thermal-processing systems used for curing composite materials and bonding metal. In addition, the company has developed new technology with "near zero emissions" for cleaning parts in place of using ozone-depleting solvents. Thermal Equipment had sales of approximately $25 million for calendar year 1992.
 Thomas P. Plunkett, president and chief executive officer of Thermo Process Systems, said, "Thermal Equipment Corporation has historically supplied its high-pressure autoclave systems to manufacturing industries employing advanced materials, with other potential uses such as the destruction of medical wastes. We are also excited about the application of this firm's environmentally sound technology for cleaning parts as an alternative to using ozone-depleting compounds that will be banned by 1995 according to government regulations."
 The acquisition of Thermal Equipment Corporation is subject to certain customary conditions, including due diligence, regulatory approvals, negotiation of a definitive acquisition agreement, and authorization by each company's board of directors.
 Thermo Process Systems provides environmental services primarily for the remediation of petroleum-contaminated soils, in addition to a comprehensive range of metallurgical processing services. The company also designs, manufactures, and sells advanced custom-engineered thermal-processing systems for the automated heat treating of metal parts. Thermo Process Systems is a public subsidiary of Thermo Electron Corporation (NYSE: TMO).
 -0- 7/8/93
 /CONTACT: John Hatsopoulos of Thermo Electron, 617-622-1111/
 (TPI TMO)


CO: Thermo Process Systems; Thermal Equipment Corporation ST: Massachusetts IN: ENV SU: TNM

DJ -- NE003 -- 9361 07/08/93 09:07 EDT
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Publication:PR Newswire
Date:Jul 8, 1993
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