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PAMECO CORPORATION ANNOUNCES COMPLETION OF ITS RESTRUCTURING AND NEW OWNERSHIP

 PAMECO CORPORATION ANNOUNCES COMPLETION
 OF ITS RESTRUCTURING AND NEW OWNERSHIP
 STONE MOUNTAIN, Ga., March 19 /PRNewswire/ -- A consortium of investors, represented by Three Cities Research, Inc., has purchased MLX Corp.'s (OTC: MLXX) Refrigeration and Air Conditioning Group which includes R&R Supply, The Graves Group, National Temperature Control Centers (NTCC), Melchior/Armstrong/Dessau (Melco), Thermal Company, Westbrook Distributing, Thermal Supply and Pameco-Aire.
 The new company, known as Pameco Corporation, is headquartered in Stone Mountain, Ga. According to Brian R. Esher, chairman, president and CEO of Pameco Corporation: "We can now operate with a strong capital structure which will enable us to further improve and expand our operations into new markets. With more than $100 million of assets, $40 million of equity, a substantial working capital line and just $30 million of debt, we now have a strong capital structure to support our five-year strategic growth plans."
 Pameco is the largest nationwide wholesale distributor of commercial and residential air conditioning, heating and refrigeration equipment, parts and supplies. 1991 revenues exceeded $330 million and the company employs approximately 1,200. Serving over 70,000 dealers, Pameco has more than 280 branch locations throughout the continental United States, Alaska, Hawaii and Guam.
 During 1991, Pameco Corporation underwent major restructuring, upgrading of its management team, systems, controls and branch outlets. The company has invested heavily in its inventory, which approximates $80 million, in an effort to improve product availability. To enhance customer service standards, major training programs were implemented to further increase employee product knowledge.
 Further, a series of customer training and information seminars were introduced to keep customers abreast of major industry changes.
 In reference to 1991, Esher commented: "Last year was one of progress and accomplishment for our company. Not only did we return to profitable operations, but most importantly we substantially restructured our operations to enable us to expand and increase market share in the 1990s. The focus of our efforts has been on our customers to provide them with the products, services and industry knowledge they need. As the industry leader, we look forward to servicing additional customers with renewed commitment and the ability to support their needs."
 -0- 3/19/92
 /CONTACT Theodore R. Kallgren, vice president - Finance of Pameco Corporation, 404-939-5910/ CO: MLX Corporation; Pameco Corporation; Three Cities Research, Inc. ST: Georgia IN: SU: TNM


BR-BN -- AT012 -- 9804 03/19/92 15:43 EST
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Date:Mar 19, 1992
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