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GOULD SHAWMUT TO PURCHASE LEADING EUROPEAN FUSE MANUFACTURER

 NEWBURYPORT, Mass., Aug. 19 /PRNewswire/ -- Gould Shawmut, Gould Inc.'s Circuit Protection Division, announced today that it has executed an agreement with EUROC AB, of Malmo Sweden, by which Gould will purchase EUROC's Spanish subsidiary, IFO Electric SA.
 IFO Electric SA, based in Barcelona, is well-recognized throughout Europe as a high-quality manufacturer of French and German standard power fuses and fuse bases. The perennial market leader in Spain, IFO Electric SA has grown significantly in recent years primarily through its export activities throughout Europe and world markets.
 "This first European acquisition by our company is an important step in our overall plan to bring high growth potential products to all of our international and North American customers," said William A. Trotman, president of Gould Shawmut.
 "Our primary objectives are not only to establish a base on the Continent, but also to enhance our position as circuit protection standards evolve and are harmonized among countries. IFO Electric and its product lines will solidly position Gould Shawmut to compete in the growth markets of the future," Trotman explained.
 Gould Shawmut is a leader in the electrical power fuse industry and is the producer of the patented Amp-trap family of current limiting fuses for industrial, commercial and original equipment manufacturer markets.
 Headquartered in Eastlake, Ohio, Gould Inc. develops, manufactures and markets materials, components and instrumentation through its Foil, Circuit Protection, and Fiber Optics and Test and Measurement divisions. Gould employs 3,000 people in 17 facilities worldwide.
 -0- 8/19/93
 /CONTACT: John Phillips of Gould Shawmut, 508-462-3131, or Richard Toth of Sage Marcom, Inc., 508-462-0404, for Gould Shawmut/


CO: Gould Shawmut ST: Massachusetts IN: CPR SU: TNM

BM -- CL004 -- 4217 08/19/93 09:57 EDT
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Publication:PR Newswire
Date:Aug 19, 1993
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