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SECOM GENERAL CORPORATION ANNOUNCES SALE OF TRI-TEC PLASTICS UNIT IS TERMINATED

 LIVONIA, Mich., May 7 /PRNewswire/ -- Secom General Corporation (NASDAQ-NMS: SECM) announced today the termination of is? agreement for the sale of its Tri-Tec Plastics unit to RXI Holdings, Inc. of Los Angeles, due to complications relating to the buyer financing of the transaction. Under the terms of the proposed transaction, Secom would have received $1.75 million at closing.
 Secom previously announced an estimated loss of $1,305,000 for its second fiscal quarter ended March 31, 1993, which included an estimated loss of $1,450,000 on the sale of Tri-Tec. The company said that final results of operations for the March 31, 1993, quarter will be released next week, in which Tri-Tec's operating results will be included in the continuing operations. The company said that its results of operations will show a profit for the quarter ended March 31, 1993.
 Secom operates six subsidiaries in three areas of basic manufacturing: metal parts forming, toolmaking, and plastic molded products serving principally the automotive, trucking, consumer and construction industries.
 -0- 5/7/93
 /CONTACT: David Marczak, secretary/treasurer of Secom, 313-953-3990; or Alex Tassos of Alex Tassos & Associates, 619-748-0787, for Secom/
 (SECM)


CO: Secom General Corporation ST: Michigan IN: AUT SU:

DH -- DE016 -- 5959 05/07/93 12:24 EDT
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Publication:PR Newswire
Date:May 7, 1993
Words:210
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