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SUPERCONDUCTIVE COMPONENTS, INC., ANNOUNCES COMMON STOCK AND CONVERTIBLE DEBENTURE FINANCING

 COLUMBUS, Ohio, June 14 /PRNewswire/ -- Superconductive Components, Inc. (NASDAQ Bulletin Board: SUVP) today announced a letter of intent concerning a $500,000 private placement with RibTech Corporation. The proposed transaction includes the purchase of 500,000 shares of Superconductive Components' common stock and convertible subordinated debentures due Dec. 31, 2000, by RibTech. The common stock portion of this investment represents approximately 10.3 percent of Superconductive Components' shares currently issued and outstanding. Upon conversion of the subordinated debentures, RibTech Corporation's ownership in Superconductive Components will be approximately 20 percent. This letter of intent is subject to a definitive agreement by both parties.
 RibTech Corporation (Columbus, Ohio) is a leading producer of steel fiber for reinforcement of refractory or ceramic materials. It is the major supplier of rapidly solidified steel fiber in the world. The company's research and development programs have contributed to significant growth, including six U.S. patents and two patents in other countries in the area of rapid solidification of fine fiber and strip production equipment.
 Superconductive Components, Inc., (Columbus, Ohio) manufactures and markets superconductive and thin film products for commercial customers as well as governmental and educational applications. The company offers a full line of sputtering target materials, ranging from simple metals to complex metal oxides, ceramics and advanced single crystals. In 1991, the company established Target Materials, Inc., to meet the increased demand for non-superconductive materials, particularly in the semiconductor, optical and magnetic storage industries.
 -0- 6/14/93
 /CONTACT: Edward R. Funk, Sc.D., chairman of Superconductive Components, Inc., 614-486-0261/
 (SUVP)


CO: Superconductive Components, Inc.; RibTech Corporation ST: Ohio IN: CPR MNG SU: FNC

AR -- CL007 -- 1604 06/14/93 11:30 EST
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Publication:PR Newswire
Date:Jun 14, 1993
Words:278
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