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THERMO REMEDIATION INC. FILES FOR INITIAL PUBLIC OFFERING OF COMMON STOCK

 WALTHAM, Mass., Oct. 19 /PRNewswire/ -- Thermo Process Systems Inc. (AMEX: TPI) announced today that its subsidiary, Thermo Remediation Inc., has filed with the Securities and Exchange Commission a registration statement for an initial public offering by it of 1,000,000 shares of its common stock with an estimated price range of $11 to $13. Following the offering, Thermo Process Systems will own approximately 68 percent of Thermo Remediation's common stock. NatWest Securities Limited and First Albany Corporation will co-manage the offering.
 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 Process Systems 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).
 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.
 A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would by unlawful prior to registration or qualification under the securities laws of any such state.
 -0- 10/19/92
 /CONTACT: John Hatsopoulos of Thermo Electron, 617-622-1111/
 (TPI TMO)


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

DJ -- NE015 -- 4046 10/19/93 14:05 EDT
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Publication:PR Newswire
Date:Oct 19, 1993
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