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RELIANCE ELECTRIC COMPANY FILES $200 MILLION SHELF REGISTRATION STATEMENT

 CLEVELAND, March 26 /PRNewswire/ -- Reliance Electric Company (NYSE: REE) announced today that it filed a shelf registration with the Securities and Exchange Commission relating to a proposed offering of up to $200 million of debt securities. Goldman, Sachs & Co. and Prudential Securities Incorporated have been named managing underwriters.
 Proceeds from the proposed offering of debt securities will be used to reduce outstanding indebtedness and for general corporate purposes.
 Reliance Electric Company, headquartered in Cleveland, Ohio, designs, manufactures, sells and services a broad range of industrial and telecommunications equipment and has annual sales in excess of $1.5 billion. Reliance operates 48 manufacturing plants worldwide in nine countries, and employs approximately 14,000 people.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such State.
 -0- 3/26/93
 /CONTACT: P. Kelly Tompkins of Reliance Electric, 216-266-5809/
 (REE)


CO: Reliance Electric ST: Ohio IN: TLS SU:

LC -- CL019 -- 0144 03/26/93 16:10 EST
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Publication:PR Newswire
Date:Mar 26, 1993
Words:240
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