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EUROLEC B.V. TO ACQUIRE LEMAG OF SPAIN

 EUROLEC B.V. TO ACQUIRE LEMAG OF SPAIN
 MADRID, May 20 /PRNewswire/ -- Eurolec B.V. today announced the


acquisition of Lemag, the Madrid-based producer of electrical distribution products for the residential market. Eurolec is the European joint venture of GE (USA) and GEC of the UK and currently includes Unelec of France, Vynckier of Belgium, Cogemec of Italy and Electroceramica of Portugal.
 This acquisition strengthens Eurolec's current product and technology portfolio in the residential electrical distribution market, specifically with Lemag's core technology in the manufacture of residual current devices. Additionally Lemag's strong presence and brand identity on the Spanish market will add significantly to Eurolec's presence in Spain, which is a key market for our products.
 Alan Clark, managing director Eurolec B.V. said: "We are very pleased to have reached this agreement, and intend for Lemag to become the focal point of Eurolec's residual current device production. This acquisition also gives Eurolec a foothold in the Spanish residential market which has huge potential for continued future growth."
 Jose Elizalde, managing director of Lemag, said: "Eurolec has had a long-term relationship with Lemag, which has naturally resulted in this step being taken. Lemag has a natural synergy with many of Eurolec's existing product lines and this joint venture will improve our competitiveness in the European market." Unelec-Vynckier Spain, also headquartered in Madrid, will now report directly to Jose Elizalde.
 Eurolec is integrated within GE Electrical Distribution and Control's global strategy. GE ED&C is a world leader in the manufacture of products that distribute, control and protect electrical power in homes, business and industry. GE ED&C products are sold primarily through electrical distributors and OEM (Original Equipment Manufacturer) customers, serving residential, commercial and industrial markets worldwide.
 -0- 5/20/92
 /CONTACT: Jack Batty for Eurolec, 203-373-2044, or Maria Jesus Martin for Lemag, 34-1-577-3986/
 (GE) CO: Eurolec B.V.; Lemag; General Electric ST: IN: CPR SU: TNM


SM-OS -- NY044 -- 6218 05/20/92 11:57 EDT
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Publication:PR Newswire
Date:May 20, 1992
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