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MK ANNOUNCES INTENT TO BUY MANUFACTURER OF TURBOCHARGERS

 BOISE, Idaho, Nov. 16 ~PRNewswire~ -- Morrison Knudsen Corp. (M K) (NYSE: MRN) announced today that MK and TMS Inc. of New York have entered into a letter of intent for the acquisition of TMS, a leading manufacturer of turbochargers for locomotive, industrial and marine engines, related components and other precision parts. TMS is headquartered near Albany, N.Y.
 "TMS is an emerging company with an excellent management team," said William J. Agee, MK chairman and chief executive officer. "TMS products are recognized throughout the rail industry as being the finest produced."
 The acquisition of TMS would expand MK's product base by offering significant potential to develop new product lines, including more fuel- efficient locomotives. As part of MK's strategy of vertical integration, TMS represents the third major acquisition by MK's Rail System Group. Motor Coils Manufacturing Co. of Pittsburgh and Power Parts Inc. of Chicago were previously acquired by MK. "This strategic addition will further enhance our capability within the rail and transit industries," added Agee. "We look forward to welcoming TMS to the MK team."
 The proposed acquisition is subject to the approval of both companies' respective boards of directors.
 Morrison Knudsen Corp. is an international company serving the environmental, industrial process, power and transportation markets with complete development, design~engineering, construction, operating and financial services.
 -0- 11~16~92
 ~CONTACT: Stan Crow of Morrison Knudsen, 208-386-5387~
 (MRN)


CO: Morrison Knudsen Corp.; TMS Inc. ST: Idaho, New York IN: TRN SU: TNM

SW -- SE002 -- 1231 11~16~92 11:33 EST
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Publication:PR Newswire
Date:Nov 16, 1992
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