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 CHARLOTTESVILLE, Va., Nov. 16 /PRNewswire/ -- Sperry Marine Inc., a major developer and manufacturer of marine electronic equipment headquartered in Charlottesville, was acquired today by a partnership formed by J.F. Lehman & Company of New York City, together with institutional investors.
 The acquiring partnership has appointed Dr. John F. Lehman as chairman of the board; George A. Sawyer as president and chief executive officer; John V. DeMaso as executive vice president for operations; Joseph A. Stroud as executive vice president and chief financial officer; Benjamin Bingham as vice president for strategic development; and N.E. "Pete" Bickers as vice president, domestic and international finance.
 Lehman served as secretary of the navy in the Reagan administration from 1981 to 1987. He is currently chairman of J.F. Lehman & Company, a private investment banking firm specializing in the domestic and international aerospace, marine, defense and transportation industries, headquartered in New York.
 Sawyer, currently a partner of J.F. Lehman & Company, served as assistant secretary of the navy for shipbuilding and logistics from 1981 to 1983. He has had a distinguished career as a senior executive in the international marine, aerospace and engineering sectors.
 DeMaso, a 20-year veteran of Sperry Marine, has served in a variety of management positions with the company. Most recently, DeMaso has served as a vice president of Sperry Marine.
 Stroud has extensive experience in corporate operations and finance and, until recently, served as the chief financial officer of ASTRA Holdings Corporation.
 Bingham has devoted most of his career to engineering and manufacturing operations in the aerospace and marine industries. His most recent affiliation has been with the General Electric Company.
 Bickers has more than 30 years with Sperry Marine in the areas of operations, financial controls and international finance.
 For the past six years, Sperry Marine has been a subsidiary of Newport News Shipbuilding, a Tenneco company. Sperry Marine's product lines feature marine electronic and communications equipment including integrated bridge systems, gyrocompasses, autopilots, radars, speed logs and other marine equipment. The company was founded in 1910 by Elmer A. Sperry, developer of the modern gyrocompass.
 Sperry Marine maintains sales and service offices at 20 sites throughout the United States and in Europe and Asia. These include Newark, Virginia Beach, Fort Lauderdale, New Orleans, Houston, San Francisco, San Diego, Seattle, Cleveland and Washington; and overseas in Tokyo, Singapore, London, Rotterdam, Marseilles, Genoa, Antwerp, Hamburg, Oslo and Copenhagen.
 -0- 11/16/93
 /CONTACT: James Noone or David Maus of Sperry Marine, 804-974-2327 or, fax, 804-974-2259/

CO: Sperry Marine Inc.; J.F. Lehman & Company ST: Virginia IN: MAR SU: TNM PER

IH-DC -- DC010 -- 5045 11/16/93 11:43 EST
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Publication:PR Newswire
Date:Nov 16, 1993

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