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PCI SERVICES ANNOUNCES AGREEMENT TO ACQUIRE TRI-LINE OF PUERTO RICO

PCI SERVICES ANNOUNCES AGREEMENT TO ACQUIRE TRI-LINE OF PUERTO RICO
 PHILADELPHIA, March 23 /PRNewswire/ -- PCI Services, Inc. (NASDAQ: PCIS), a leading independent supplier of packaging services and components to the pharmaceutical industry, today announced an expansion of its activities in Puerto Rico with the signing of a definitive agreement to acquire Tri-Line, Inc., of Manati, Puerto Rico.
 The agreement is subject to certain approvals and is expected to close April 15, 1992.
 Tri-Line, with annual sales approximating $5.5 million, is the principal printer and supplier of inserts for pharmaceutical packaging in Puerto Rico.
 Simultaneously, Richard S. Sauter, chief executive officer of PCI, announced that Ronald Salzano, president of Tri-Line, will also be appointed as president of PCI/Caribe, a PCI subsidiary located in Puerto Rico, which supplies folding cartons and labels to the industry.
 The purchase price of the cash acquisition was not disclosed.
 "This acquisition expands our involvement with the Puerto Rican pharmaceutical industry, where many of our U.S. customers operate manufacturing facilities," said Sauter. "Moreover, we are extremely fortunate to be able to secure the services of Mr. Salzano, who enjoys an outstanding professional reputation in the industry, to head up all of our operations in Puerto Rico."
 Tri-Line operates two plants of 30,000 square feet and employs 70 people. It was founded by Salzano 13 years ago. PCI/Caribe has 105 employees at its 53,000-square-foot plant in Gurabo.
 PCI Services, Inc., which completed its initial common share offering to the public in January 1992, is 47 percent-owned by MEDIQ Incorporated (AMEX: MED), a company which, through subsidiaries, has interests in a wide range of medical-related products and services.
 /delval/
 -0- 3/23/92
 /CONTACT: Michael F. Sandler, vp and chief financial officer of PCI Services, 609-665-9399/
 (PCIS MED) CO: PCI Services, Inc.; Tri-Line, Inc.; MEDIQ Incorporated ST: Pennsylvania, Puerto Rico IN: HEA SU: TNM


MP-LJ -- PH009 -- 0524 03/23/92 11:19 EST
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Publication:PR Newswire
Date:Mar 23, 1992
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