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THERMO KING ANNOUNCES JOINT VENTURE IN PRAGUE

 THERMO KING ANNOUNCES JOINT VENTURE IN PRAGUE
 PRAGUE, Czechoslovakia, June 16 /PRNewswire/ -- Thermo King


Corporation, the leading U.S. transport refrigeration firm, announced today the formation of a joint venture with Frigera, a.s., the largest truck refrigeration firm in Eastern Europe.
 The new company, Thermo King-Frigera, sr.o., will bring the American company's reputation for reliability and service together with the Czechoslovakian firm's manufacturing capabilities for Eastern European markets.
 The majority owner of the new venture, Thermo King, is headquartered in Minneapolis, and has 13 manufacturing facilities and 400 dealers around the world. Thermo King is a subsidiary of Westinghouse Electric Corporation (NYSE: WX).
 Frigera produces refrigeration equipment for commercial, laboratory and medical purposes and is the largest transport refrigeration supplier to the Commonwealth of Independent States, the former Soviet Union.
 The new company will employ approximately 550 people, all former employees of Frigera. Facilities include a plant in Kolin and a research center here.
 Gary M. Clark, president of the Westinghouse industries group, said: "Thermo King-Frigera has the potential to become the high-quality, low-cost supplier of refrigeration units in Eastern Europe -- the third largest market for transport refrigeration units in the world."
 "We plan to invest as much as $14 million in the venture over the next several years," said Tom Costello, Thermo King president.
 "Besides serving the markets of Eastern Europe, Thermo King- Frigera will become a valuable supplier of components for Thermo King's global operations," Costello said.
 "Frigera's research facility will also bring us new technological insights into the Eastern European market," Costello said.
 Gordon Mapp, vice president of Thermo King's international division, said Thermo King-Frigera becomes the eighth international operation under his direction.
 "Thermo King has operated in Eastern Europe for more than 30 years so we are well aware of the risks as well as the opportunities in this part of the world," Mapp said.
 "We are not only going to be working to produce reliable products, we will be working to overcome a traditional reluctance to deal with the so-called middleman -- the wholesalers or the shippers of food -- who are essential to solving the food distribution problems in Eastern Europe."
 Mapp said John Hudson, Thermo King controller, has been named managing director of the new company. Dr. Zdendek Kaiser has been appointed technical director and Frantisek Marshalek appointed commercial director, both former employees of Frigera.
 Westinghouse and Thermo King executives joined those of Frigera here today to announce the joint venture to officials and the media.
 /delval/
 -0- 6/16/92
 /CONTACT: Caea Sager of Thermo King, 612-887-2291/
 (WX) CO: Thermo King Corporation; Westinghouse Electric Corporation ST: Pennsylvania, Minnesota IN: CPR SU: JVN


CD -- PG002 -- 0549 06/16/92 09:57 EDT
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Publication:PR Newswire
Date:Jun 16, 1992
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