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THERMO INSTRUMENT SYSTEMS ANNOUNCES INTENT TO ACQUIRE GAS TECH INC.

THERMO INSTRUMENT SYSTEMS ANNOUNCES INTENT TO ACQUIRE GAS TECH INC.
 WALTHAM, Mass., March 16 /PRNewswire -- Thermo Instrument Systems Inc. (AMEX: THI) today announced that it has signed a memorandum of intent to acquire closely held Gas Tech Inc., a leading manufacturer of worker safety devices and systems for detecting and monitoring toxic and combustible gases. The cash acquisition is subject to certain customary conditions, including due diligence, regulatory approvals, and authorization by each company's board of directors. The acquisition is expected to be completed by late spring.
 Gas Tech, with headquarters in Newark, Calif., and additional manufacturing facilities in Hatboro, Pa., manufactures and sells detectors, instruments, and systems for sensing, monitoring, and warning personnel of toxic and combustible gases. The company's products are used by a wide range of customers, from large petrochemical and industrial manufacturing facilities to commercial buildings and indoor parking garages.
 Gas Tech's wholly owned U.S. operations had revenues of approximately $28 million last year. The company also owns 50 percent of Gas Tech Canada in Calgary, Alberta, and Gas Tech Australia in Sydney, which had combined revenues of approximately $7 million in 1991. Gas Tech's operations have been profitable.
 Arvin H. Smith, president and chief executive officer of Thermo Instrument Systems, said, "We believe Gas Tech will provide an excellent and strategically attractive extension of our environmental air-monitoring instruments business by providing products that address the market for worker safety and health and industrial hygiene."
 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 (NYSE: TMO).
 -0- 3/16/92
 /CONTACT: John Hatsopoulos of Thermo Instrument Systems, 617-622-1111/
 (THI TMO) CO: Thermo Instrument Systems Inc.; Gas-Tech Inc. ST: Massachusetts, California IN: OIL SU:


SH -- NE006 -- 8151 03/16/92 09:07 EST
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Publication:PR Newswire
Date:Mar 16, 1992
Words:339
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