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THERMO REMEDIATION COMMENCES INITIAL PUBLIC OFFERING OF COMMON STOCK (z)

 WALTHAM, Mass., Dec. 9 /PRNewswire/ -- Thermo Process Systems Inc. (AMEX: TPI) today announced that its subsidiary, Thermo Remediation Inc., (AMEX: THN) has commenced an initial public offering of 1,100,000 shares of its common stock at a price of $12.50 per share. Following the offering, Thermo Process Systems Inc. will own approximately 67 percent of the common stock of Thermo Remediation. NatWest Securities Limited and First Albany Corporation are co-managing the offering. The underwriters have been granted a 30-day over-allotment option to purchase an additional 150,000 shares. The common stock will be traded on the American Stock Exchange under the symbol THN.
 Copies of the Prospectus relating to the offering may be obtained from NatWest Securities Limited, Syndicate Department, 100 Wall St., 23rd Floor, New York, N.Y., 10005, 212-440-8413.
 Thermo Remediation is an environmental remediation company that operates a network of six soil-remediation centers located in five states. Thermo Remediation's thermal process technology treats soils to remove and destroy petroleum contamination caused by leaking underground storage tanks, aboveground storage tanks, spills, and other sources. Thermo Remediation also recently entered the waste fluids recycling market through an acquisition.
 Thermo Process Systems also designs, manufactures, and sells advanced custom-engineered thermal-processing systems for the automated heat treating of metal parts. It also provides a comprehensive range of metallurgical processing services. Thermo Process Systems is a public subsidiary of Thermo Electron Corporation (NYSE: TMO).
 -0- 12/9/93
 /CONTACT: John Hatsopoulos of Thermo Electron, 617-622-1111/
 (TPI THN TMO)


CO: Thermo Remediation Inc.; Thermo Process Systems Inc.; Thermo
 Electron Corporation ST: Massachusetts IN: ENV MNG SU: OFR


DJ-CM -- NE002 -- 2095 12/09/93 09:08 EST
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Publication:PR Newswire
Date:Dec 9, 1993
Words:275
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