NYCOR COMPLETES ACQUISITION OF MELCOR
NYCOR COMPLETES ACQUISITION OF MELCOR BASKING RIDGE, N.J., Sept. 25 /PRNewswire/ -- NYCOR, Inc.
(NASDAQ: NYCOA) today announced that it has completed its $14.9 million acquisition of Materials Electronic Products Corporation ("Melcor"), the world's largest manufacture of solid state thermoelectric heat pump modules. Melcor, headquartered in Trenton, N.J., sells its Frigichips modules world-wide for use in special cooling applications in which weight and space considerations are important.
Melcor sales have grown at a five-year annual compounded rate of more than 23 percent. For the eight months ended Aug. 31, 1992, Melcor had operating income of $2.8 million on sales of $12 million. -0- 9/25/92 /NOTE TO EDITORS: Please 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.; Materials Electronic Products Corporation ST: New Jersey IN: SU: TNM
AH-KW -- NY044 -- 3552 09/25/92 14:07 EDT
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|Date:||Sep 25, 1992|
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