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NYCOR TO ACQUIRE COMPRESSOR BUSINESS IN SECOND ACQUISITION ANNOUNCEMENT IN THIS QUARTER

 NYCOR TO ACQUIRE COMPRESSOR BUSINESS
 IN SECOND ACQUISITION ANNOUNCEMENT IN THIS QUARTER
 BASKING RIDGE, N.J., Aug. 20 /PRNewswire/ -- The board of directors of NYCOR, Inc. (NASDAQ: NYCOA), today announced it has reached a definitive agreement to acquire compressor manufacturing operations from Fedders Corporation (NYSE: FJQ). The purchase price is approximately $63 million for the net assets plus the assumption of about $13.6 million of liabilities.
 The Rotorex compressor operations, located near Frederick, Md., produce high-efficiency rotary compressors and employ approximately 460. Rotorex will continue to sell a portion of its production to Fedders and also will market compressors to other air conditioner and refrigeration manufacturers, domestically and internationally. Beyond North America, demand for rotary compressors is at least four times greater than in the United States.
 NYCOR is a holding company seeking to acquire manufacturing operations. Last month, the company announced it will acquire Materials Electronic Products Corporation (Melcor), the world's largest manufacturer of solid state thermoelectric heat pump modules, for $14.9 million.
 Both Melcor and Rotorex produce components marketed to original- equipment manufacturers of heating and cooling systems. The two acquisitions could generate NYCOR revenues approaching $70 million in 1993, assuming production at their current level of operations.
 -0- 8/20/92
 /CONTACT: Bob Logan of NYCOR, 908-953-8200/
 (NYCOA FJQ) CO: NYCOR, Inc.; Fedders Corporation ST: New Jersey, Maryland IN: SU: TNM


GK-PS -- NY038 -- 1690 08/20/92 11:56 EDT
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Publication:PR Newswire
Date:Aug 20, 1992
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