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EAI FIELD SERVICE DIVISION TO BE SOLD TO HALIFAX CORPORATION

 ALEXANDRIA, Va., May 3 /PRNewswire/ -- Halifax Corporation (AMEX: HX) today announced the completion of a Memorandum of Understanding providing for the purchase by Halifax of Electronic Associates, Inc. (NYSE: EA), Field Service Division. Financial terms of the proposed transaction were not disclosed. Completion of the transaction, anticipated on or about June 30, 1993, is subject to approval of a final purchase agreement. The customary due-diligence process has commenced.
 According to Howard Mills, president of Halifax, "The acquisition of EAI's well-known, highly regarded Field Service Division is expected to significantly increase our electronics-services annual revenues, add to our nationwide network and augment our staff of highly qualified managers and field engineers."
 Richard G. Rogers, EAI president, stated: "Although our Field Service Division has been successful for many years, we feel this proposal will facilitate the ongoing focus of our company in the contract manufacturing arena. We have every expectation that our Field Service customers, many of whom have longstanding relationships with us, will be well-served by this combination with Halifax, an experienced and well-managed company in the field."
 Halifax is an electronic services and facilities support company for government and industry, headquartered in Alexandria.
 EAI's principal business is contract manufacturing, providing manufacturing services for products designed and marketed by customers. EAI is based in West Long Branch, N.J.
 -0- 5/3/93
 /CONTACT: Richard J. Smithson of Halifax Corporation, 703-750-2202/
 (HX EA)


CO: Halifax Corporation; Electronic Associates, Inc. ST: Virginia, New Jersey IN: CPR SU: TNM

MH-TW -- DC010 -- 3576 05/03/93 08:47 EDT
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Publication:PR Newswire
Date:May 3, 1993
Words:255
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