ALLEN GROUP COMPLETES ACQUISITION
ALLEN GROUP COMPLETES ACQUISITION BEACHWOOD, Ohio, Nov. 3 /PRNewswire/ -- The Allen Group Inc.
(NYSE: ALN) today announced that it has completed its acquisition of the remaining partnership interest in MARTA Technologies. Allen previously had entered into a Joint Venture Agreement on Aug. 1, 1990, to form MARTA Technologies, which is in the business of operating centralized automotive emissions testing programs. MARTA Technologies currently operates the centralized automotive emissions testing program in Jacksonville, Fla.
Commenting on the acquisition, Robert G. Paul, president and chief executive officer stated, "We believe that most of the future automotive emissions testing programs in the United States will be centralized programs and that we will have the opportunity to bid on a number of these new programs during the next six to twelve months. Increasing our ownership of MARTA Technologies to 100 percent positions Allen well to take advantage of this movement towards centralized testing." The Allen Group Inc. (NYSE: ALN) manufactures and markets electronic and other products, principally for the telecommunications and automotive industries, including mobile communications equipment, automotive diagnostic and emission test equipment and truck components. -0- 11/3/92 /CONTACT: Robert A. Youdelman of The Allen Group Inc., 216-765-5800/ (ALN) CO: The Allen Group; MARTA Technologies ST: Ohio, Florida IN: AUT TLS SU: TNM
BM -- CL006 -- 1997 11/03/92 10:48 EST
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|Date:||Nov 3, 1992|
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