NYCOR COMPLETES ACQUISITION OF COMPRESSOR BUSINESS
NYCOR COMPLETES ACQUISITION OF COMPRESSOR BUSINESS BASKING RIDGE, N.J., Sept. 29 /PRNewswire/ -- NYCOR, Inc.
(NASDAQ: NYCOA) today announced that it has completed its acquisition of the Rotorex compressor operations from Fedders Corporation. The purchase price was approximately $72.8 million, including the assumption of certain operating liabilities. Rotorex had operating cash flow (EBITDA) of $8.7 million in its fiscal year ended Aug. 31, 1992 despite depressed sales of $41 million.
Along with its recently announced acquisition of Materials Electronic Products Corporation, a producer of solid state thermoelectric heat pump modules, NYCOR now comprises two operating companies producing components marketed to original equipment manufacturers of heating and cooling systems. NYCOR's acquisition program will continue to concentrate on operations compatible with these two businesses. -0- 9/29/92 /NOTE TO EDITORS: Be advised that the correct presentation of the NYCOR name is in all capital letters -- NYCOR, Inc./ /CONTACT: Kent E. Hansen of NYCOR, Inc., 908-953-8200/ (NYCOA) CO: NYCOR, Inc. ST: New Jersey IN: SU: TNM
LR-TS -- NY015 -- 4257 09/29/92 09:33 EDT
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|Date:||Sep 29, 1992|
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