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THERMO INSTRUMENT COMPLETES SALE OF BIOMEDICAL PRODUCTS BUSINESS TO THERMO ELECTRON CORPORATION

 WALTHAM, Mass., May 28 /PRNewswire/ -- Thermo Instrument Systems Inc. (AMEX: THI) announced today that it has completed the previously announced sale of the biomedical instrument products business of its Nicolet Instrument Corporation subsidiary to its parent company, Thermo Electron Corporation (NYSE: TMO), for approximately $68 million in cash in a transaction authorized by each company's board of directors. The purchase price excludes the value of Nicolet real estate, which was not sold as previously contemplated.
 Proceeds from the sale of the biomedical instruments business will be used by Thermo Instrument to reduce its debt to Thermo Electron, which has assisted in financing recent acquisitions.
 Thermo Instrument Systems develops, manufactures, and markets analytical instruments used to detect and monitor air pollution, radioactivity, complex chemical compounds, and toxic metals and other elements in a broad range of liquids and solids. The company also provides environmental science and engineering services, laboratory- based testing, and nuclear health physics services. Thermo Instrument Systems is a public subsidiary of Thermo Electron Corporation.
 -0- 5/28/93
 /CONTACT: John Hatsopoulos of Thermo Electron, 617-622-1111/
 (TMO THI)


CO: Thermo Electron ST: Massachusetts IN: MTC SU:

DD -- NE004 -- 3276 05/28/93 09:02 EDT
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Publication:PR Newswire
Date:May 28, 1993
Words:196
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