SENTROL LIFESAFETY COMMENCES TENDER OFFER FOR ARITECH CORP.
PHILADELPHIA, Aug. 25 /PRNewswire/ -- Berwind Industries, Inc. announced today that its wholly owned subsidiary, Sentrol Lifesafety Corporation, has commenced through its subsidiary, Aritech Acquisition Corp., a tender offer for all outstanding common shares of Aritech Corp. (NASDAQ: ARIT) at $6.25 cash net per share. As previously announced, the offer is conditioned upon at least 75 percent of Aritech's approximately 3.4 million outstanding common shares (including employee stock options), being validly tendered and not withdrawn prior to the expiration of the offer. The offer will expire at midnight, New York City time, on Sept. 22, 1993. The offer will be followed by a merger in which all remaining outstanding common shares of Aritech Corp. will be converted into the right to receive $6.25 cash net per share. The board of directors of Aritech Corp. has unanimously determined that the offer and related merger are fair to and in the best interests of Aritech and its stockholders and is unanimously recommending that stockholders accept the offer and tender their shares pursuant to the offer. MacKenzie Partners, Inc. will act as Information Agent for the offer and the merger. Requests for assistance or copies of the tender offer materials may be directed to MacKenzie Partners by telephoning toll free 800-322-2885. -0- 8/25/93 /CONTACT: Stanley J. Kay, Jr. of MacKenzie Partners, Inc., 212-929-5940, or Denis Conlon of Berwind Industries, Inc., 215-563-2800/ (ARIT)
CO: Berwind Industries, Inc.; Sentrol Lifesafety Corp. ST: Pennsylvania IN: SU: OFR
LG-SM -- NY011 -- 5703 08/25/93 08:38 EDT