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HALLIBURTON ANNOUNCES PURCHASE OF TELEDYNE MERLA

 HALLIBURTON ANNOUNCES PURCHASE OF TELEDYNE MERLA
 DALLAS, March 27 /PRNewswire/ -- Halliburton Company (NYSE: HAL)


announced today that its Otis Engineering Corporation subsidiary has purchased substantially all of the business assets of Teledyne Merla, a Teledyne Industries Inc. company. The purchased assets are being used to form Otis Merla Systems, a new division of Otis Engineering.
 Otis Merla Systems will be headquartered at the existing Merla facility in Garland, Texas and its products and services will be marketed through Otis Engineering's worldwide field service organization. For over 50 years Merla has served the petroleum industry and now primarily manufactures products to serve the gas lift segment of the artificial lift market. It also manufactures production automation systems and adjustable chokes used to monitor and control the production of oil and gas, as well as other well completion equipment. Merla's annual sales are approximately $20 million.
 Jerry Davis, president and CEO of Otis Engineering Corporation, said, "The acquisition of Merla is consistent with our goals and objectives and will broaden our capabilities to provide the petroleum industry with quality products and services. Merla's artificial lift equipment will enable Otis to better serve our customers' needs."
 Walt Czaus, president of Teledyne Merla and the new president of Otis Merla Systems, commented, "The combined resources of Otis Engineering and Otis Merla Systems will enable us to provide artificial lift expertise and the most comprehensive gas lift systems capabilities to the worldwide petroleum industry."
 The transaction is also consistent with the goals and objectives of Teledyne. In August 1991 Teledyne announced its intention to reorganize certain of its operations and divest its non-strategic businesses. The divestiture of Merla is part of that restructuring plan.
 Otis Engineering Corporation provides specialized equipment and services for the completion, production and control of oil and gas wells worldwide.
 Halliburton Company is one of the world's largest diversified energy services, engineering, maintenance, and construction companies. Founded in 1919, Halliburton provides a broad range of energy services and products, industrial and marine engineering and construction services, and property and casualty insurance services.
 -0- 3/27/92
 /CONTACT: Guy T. Marcus, vice president-investor relations of Halliburton Company, 214-978-2691/
 (HAL) CO: Halliburton Company; Teledyne Merla ST: Texas IN: SU: TNM


AH -- NY059 -- 2539 03/27/92 17:03 EST
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Publication:PR Newswire
Date:Mar 27, 1992
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