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CORE INDUSTRIES INC. COMPLETES SALE OF ANILAM

 CORE INDUSTRIES INC. COMPLETES SALE OF ANILAM
 BLOOMFIELD HILLS, Mich., Oct. 16 /PRNewswire/ -- David R. Zimmer,


president and CEO of Core Industries Inc. (NYSE: CRI), announced today that the company concluded its sale of Anilam Electronics, one of its subsidiaries, to Grossenbacher Elektronik AG. On Sept. 11, Zimmer had announced that Core had signed a preliminary agreement for this divestiture. Grossenbacher Elektronik AG, a Swiss manufacturer of industrial electronics including machine tool controls and digital readouts, acquired Anilam's principal product capabilities and all operations including those in Europe and Hong Kong. Anilam Electronics designs and manufactures digital readouts and electronic controls for machine tools and other industrial applications.
 As announced earlier, the sale to Grossenbacher excludes Anilam's line of machine tools. Core Industries will continue to produce Anilam's machine tools while efforts to sell this final portion of the business are pursued.
 Zimmer also stated that Core expects to release next week its results for the fiscal year ended Aug. 31, 1992. Proceeds from the sale of Anilam and the expected remaining costs for the disposal of the machine tool products are consistent with financial reserves established in Core's second quarter ended Feb. 29, 1992, and will have no impact on the company's year-end results.
 Core Industries Inc. is a diversified manufacturer of specialty products for three basic industries: Electronics, Farm Equipment, and Fluid Controls and Construction Products. It is listed on the New York Stock Exchange under the symbol "CRI."
 -0- 10/16/92
 /CONTACT: David R. Zimmer, president and CEO, Core Industries Inc., 313-642-3400/
 (CRI) CO: Core Industries Inc.; Anilam Electronics;
 Grossenbacher Elektronik AG ST: Michigan IN: SU: TNM


JG -- DE010 -- 0829 10/16/92 09:59 EDT
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Publication:PR Newswire
Date:Oct 16, 1992
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