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ATEK METALS CENTER, INC. ANNOUNCES APPROVAL OF MERGER

 CINCINNATI, Sept. 17 /PRNewswire/ -- Atek Metals Center, Inc. (NASDAQ-NMS: ATKM) announced that at a special meeting held today, its common and convertible preferred shareholders approved a previously announced proposal to merge Atek with an affiliate of Rolled Alloys, Inc., a privately held distributor of heat and corrosive resistant alloys, and that it is anticipated the merger will become effective on Monday, Sept. 20, 1993.
 Under the terms of the merger, at the effective time each of Atek's issued and outstanding 3,730,231 common shares will be converted into a right to receive $4.51 in cash. In addition, the 2,000 shares of Atek's convertible preferred stock will be converted into the right to receive $1,000 per share in cash.
 The Provident Bank, Cincinnati, has been appointed the Exchange Agent for the purpose of paying the conversion cash price in exchange for surrender of certificates representing Atek's common and convertible preferred shares. The Exchange Agent will mail to each shareholder a Letter of Transmittal and other documents in order for shareholders to complete the exchange.
 Effective the day of the merger, Atek will become a privately held company owned by the former shareholders of the Rolled Alloys, Inc. affiliate.
 Atek provides high-performance materials and manufacturing services worldwide to the aircraft engine segment of the aerospace industry and the petrochemical segment of the chemical process industry.
 -0- 9/17/93
 /CONTACT: Barry F. Bucher, president of Atek Metals Center, 513-874-3490/
 (ATKM)


CO: Atek Metals Center, Inc.; Rolled Alloys, Inc. ST: Ohio IN: MNG SU: TNM

AR -- CL012 -- 3178 09/17/93 15:42 EDT
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Publication:PR Newswire
Date:Sep 17, 1993
Words:265
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