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TECOGEN ANNOUNCES INTENT TO ACQUIRE MAJOR INDUSTRIAL REFRIGERATION SYSTEMS MANUFACTURER

 TECOGEN ANNOUNCES INTENT TO ACQUIRE MAJOR INDUSTRIAL
 REFRIGERATION SYSTEMS MANUFACTURER
 WALTHAM, Mass., April 28 /PRNewswire/ -- Tecogen Inc. (AMEX: TGN) has signed a letter of intent to acquire FES, Inc., a leading manufacturer of custom-designed industrial refrigeration systems. FES is a subsidiary of Carrier Corporation, which is a wholly owned subsidiary of United Technologies Corporation (NYSE: UTX). Completion of the transaction is subject to a due diligence investigation by Tecogen, approval by the Tecogen board of directors, regulatory approval, negotiation of a definitive acquisition agreement, and other customary closing conditions.
 With sales of nearly $50 million last year, FES is a worldwide supplier of specialized refrigeration equipment and systems used primarily by the food processing and petrochemical industries. The company's headquarters are located in York, Pa., with another production facility in England and a service operation in California.
 Marshall J. Armstrong, chairman and chief executive officer of Tecogen, said, RThe acquisition of FES would permit Tecogen to enter the industrial refrigeration market. In addition, we believe that FES has excellent manufacturing facilities and that its products would complement Tecogen's natural gas-engine-driven cooling systems. Tecogen's expertise in energy and heat transfer technologies could also be applied to the new market to support the development and introduction of advanced FES products.S
 Tecogen Inc. manufactures, markets, and services natural gas- fueled cogeneration and commercial cooling systems and marine engines. The company also conducts research and development on low-emission natural gas engines for vehicles; pump, compressor, and electric generator drives; as well as advanced systems for clean-coal combustion and other high-efficiency gas-fueled devices. Tecogen is a public subsidiary of Thermo Electron Corporation (NYSE: TMO).
 (TGN TMO) CO: ImmunoGen, Inc.; FES, Inc. ST: Massachusetts IN: SU:


SH -- NE003 -- 3598 04/28/92 09:16 EDT
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Publication:PR Newswire
Date:Apr 28, 1992
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