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TEST SYSTEMS DIVISION OF RELIANCE COMM/TEC CORPORATION TO BE ACQUIRED BY ACME-CLEVELAND CORPORATION

 TEST SYSTEMS DIVISION OF RELIANCE COMM/TEC CORPORATION TO BE
 ACQUIRED BY ACME-CLEVELAND CORPORATION
 CLEVELAND, July 27 /PRNewswire/ -- Acme-Cleveland Corporation (NYSE: AMT) today announced that its telecommunications subsidiary, Communications Technology Corporation (CTC), had signed a letter of intent with Reliance Comm/Tec Corporation (RCT), a wholly owned subsidiary of Reliance Electric Company (NYSE: REE), to purchase certain assets and rights relating to RCT's Test System Division (TSD). In addition to the acquisition, CTC will enter into a separate agreement with RCT for the supply of telephone special service testing units.
 TSD manufactures a broad line of central office based products for telephone company subscriber loop testing and maintenance in the United States and international markets. Such products include Remote Measurement Test Units and Repair Service equipment/software. TSD's sales in 1991 were in the $12 million range.
 David L. Swift, Acme-Cleveland's president and CEO, stated that, "The intended acquisition of TSD will combine TSD's extensive central office oriented testing expertise and product line with CTC's capabilities in outside plant field testing and data management. This combination represents a significant opportunity to accelerate CTC's growth of its instrument and systems businesses, and will better position CTC to support the telephone industry's transition to fiber, coax, and wireless networks."
 Acme-Cleveland Corporation manufactures and sells telecommunications products, sensor devices and controls, cutting tools, multiple spindle machine tools, quality assurance products and systems, and related parts and services.
 -0- 7/27/92
 /CONTACT: Francis R. Appeldorn, vice president, finance, of Acme- Cleveland Corporation, 216-432-5406, or P. Kelly Tompkins, director of investor relations for Reliance Electric Company, 216-266-5809/
 (AMT REE) CO: Acme-Cleveland Corporation; Reliance Electric Company ST: Ohio IN: MAC TLS SU: TNM


BM -- CL009 -- 3607 07/27/92 15:00 EDT
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Publication:PR Newswire
Date:Jul 27, 1992
Words:287
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