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Figgie International sells Taylor unit to Zalusky-led group.

WILLOUGHBY, Ohio--(BUSINESS WIRE)--Nov. 26, 1996--Figgie International Inc. (NASDAQ/NMS:FIGIA AND FIGI) said today it has completed the sale of its Taylor Environmental Instruments business to a group led by Lawrence Zalusky & Associates and First Chicago Equity Capital for an undisclosed amount.

Taylor manufactures thermometers and other devices to measure temperature, barometric pressure, rainfall, wind speed and direction. It is the largest full-line supplier of thermometers in the United States with revenues of approximately $20 million. Serving the consumer, industrial and food service markets, Taylor employs 275 people at plants in Fletcher, North Carolina and Juarez, Mexico.

Mr. Zalusky, former Chairman and Chief Executive Officer of Health-O-Meter, said, "Taylor is a long-established company with a record of innovation. Along with the entire Taylor team, we look forward to growing this company." First Chicago Equity Capital is the private equity investment arm of First Chicago NBD Corporation.

CONTACT: Figgie International

Ira Gamm, 216/953-2812
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Publication:Business Wire
Date:Nov 26, 1996
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