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THERMO ELECTRON COMPLETES PRIVATE PLACEMENT OF COMMON STOCK OF THERMO FIBERTEK INC. SUBSIDIARY

 THERMO ELECTRON COMPLETES PRIVATE PLACEMENT OF
 COMMON STOCK OF THERMO FIBERTEK INC. SUBSIDIARY
 WALTHAM, Mass., Feb. 24, 1992 -- Thermo Electron Corporation (NYSE: TMO) announced today that it has entered into agreements for the sale of approximately 8.3 percent of the outstanding shares of common stock of its Thermo Fibertek Inc. subsidiary to a group of investors in a private placement arranged through NatWest Capital Markets and County NatWest Limited. The estimated gross proceeds to Thermo Fibertek Inc. from the offering will be approximately $12,825,000. After the offering, Thermo Electron will own approximately 91.7 percent of Thermo Fibertek's common stock.
 Thermo Fibertek is a leading designer and manufacturer of processing machinery and accessories for the paper and paper-recycling industries. Its principal products include custom-engineered systems and equipment for the preparation of waste paper for conversion into recycled paper, accessory equipment and related consumables that are critical to the efficient operation of paper-making machines, and drying systems for the paper and printing industries. The company has been in operation for more than 80 years, and its customers include most major paper makers worldwide.
 Thermo Electron develops, manufactures, and markets environmental and analytical instruments, custom-engineered and pre-packaged cogeneration systems, industrial process equipment, biomedical materials and products, and fabricated biomedical and aerospace components. The company also provides metallurgical heat treating, water quality engineering, and analytical laboratory services.
 -0- 2/24/92
 /CONTACT: John N. Hatsopoulos of Thermo Electron, 617-622-1111/
 (TMO) CO: Thermo Electron Corporation ST: Massachusetts IN: MAC SU: OFR


TM -- NE009 -- 1748 02/24/92 09:20 EST
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Publication:PR Newswire
Date:Feb 24, 1992
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