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ELDEC ANNOUNCES ACQUISITION OF POWER SUPPLY LINE

 LYNNWOOD, Wash., June 17 /PRNewswire/ -- ELDEC Corp. (NASDAQ: ELDC) announced its purchase of certain assets of Ferranti Venus Inc., Long Island, N.Y., a subsidiary of Ferranti International Inc., that manufactures power supplies for military and commercial aircraft. Purchase price is approximately $2.5 million, plus the assumption of certain liabilities.
 The acquisition expands ELDEC product offerings in aerospace power supplies. ELDEC has approximately $100 million in annual sales; aerospace power supplies currently account for about 25 percent of its sales. Venus had sales of approximately $13 million in its fiscal year ended March 1993; next year's sales for Venus are anticipated to be approximately $10 million, primarily due to defense spending reductions.
 "Although the acquisition should boost ELDEC sales somewhat over the next few years," said ELDEC Chief Executive Officer Tom Brown, "it is primarily an opportunity for ELDEC to broaden its product offerings in aerospace power supplies for new programs.
 "The acquisition of Venus will add to our presence in the high voltage market and complement our strong low voltage product offerings."
 Founded in 1957, ELDEC custom designs and manufactures electronic and electromechanical systems for aerospace and defense applications. The company is a sub-contractor to a large number of major aerospace and defense electronics contractors.
 -0- 6/17/93
 /CONTACT: Tom Brown, chief executive officer, 206-743-8205, or Phil Lorenzen, chief financial officer, 206-743-8220, or Salvatore Ronchetti, vice president, Power Conversion, 206-743-8442, all of ELDEC/
 (ELDC)


CO: ELDEC Corp.; Ferranti Venus Inc.,; Ferranti International Inc. ST: Washington, New York IN: ARO SU: TNM

GH-SW -- SE007 -- 3126 06/17/93 13:10 EDT
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Publication:PR Newswire
Date:Jun 17, 1993
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