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SPRAGUE TECHNOLOGIES SIGNS LETTER OF INTENT FOR ASSET SALES

 SPRAGUE TECHNOLOGIES SIGNS LETTER OF INTENT FOR ASSET SALES
 STAMFORD, Conn., May 1 /PRNewswire/ -- Sprague Technologies, Inc. (NYSE: SPG) announced today that it had signed a letter of intent with United Chemi-Con, Inc. for the sale of certain assets of Sprague's Aluminum Capacitor Division for an undisclosed cash purchase price. No gain or loss is expected on the sale. The transaction is subject to negotiation and approval of a definitive purchase and sale agreement and certain governmental approvals. Closing of the transaction is expected to occur on or before August 31.
 -0- 5/1/92
 /CONTACT: Kevin Matz, asst. treasurer of Sprague, 203-964-8628/
 (SPG) CO: Sprague Technologies Inc.; United Chemi-Con Inc. ST: Connecticut IN: SU: TNM


TQ-BW -- NY023 -- 5386 05/01/92 10:26 EDT
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Publication:PR Newswire
Date:May 1, 1992
Words:125
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