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THERMO VOLTEK COMPLETES ACQUISITION OF COMTEST INSTRUMENTATION

 MT. KISCO, N.Y., Aug. 4 /PRNewswire/ -- Thermo Voltek Corp. (AMEX: TVL) announced today that its KeyTek Instrument Corp. subsidiary has completed the previously announced acquisition of Comtest Instrumentation, B.V., a Netherlands-based company, and a U.K. operation, Comtest Limited, for cash and the pay-off of debt totaling approximately $1.2 million. The final purchase price was reduced to reflect the retention by the seller of approximately $660,000 in cash that the parties had previously contemplated would be part of the assets purchased.
 To fund the acquisition, Thermo Voltek sold to Thermedics Inc., Thermo Voltek's parent company, a $4 million principal amount 5 percent subordinated convertible note due 2003. The note is convertible into shares of Thermo Voltek common stock at a price of $8.50 per share. Thermo Voltek is using a portion of the proceeds for working capital and to repay amounts owed to Thermo Electron.
 Comtest, which has been a distributor of KeyTek products for eight years, markets systems that test for electromagnetic compatibility (EMC), provides EMC-related consulting services, and manufactures specialized power supplies for telecommunications equipment. Comtest conducts business primarily in the Benelux countries and the U.K. Comtest's 1992 revenues, excluding revenues derived from KeyTek, were approximately $8 million.
 An established player in the European electronics industry, Comtest should facilitate our access to overseas markets where KeyTek's products are gaining increased attention for their ability to assure that electronics manufacturers meet the world's toughest quality standards, said John W. Wood Jr., president and chief executive officer of Thermo Voltek.
 Thermo Voltek Corp. designs and manufactures high-voltage power conversion systems and electronic test instruments and systems for commercial, industrial, medical, defense, and scientific and energy applications. Thermo Voltek is a subsidiary of Thermedics Inc. (AMEX: TMD) and Thermo Electron Corporation (NYSE: TMO).
 -0- 8/4/93
 /CONTACT: John Hatsopoulos, Thermo Electron Corp., 617-622-1000/
 (TVL TMD TMO)


CO: Thermo Voltek Corp.; Thermedics Inc.; Thermo Electron Corporation ST: New York IN: CPR SU: TNM

JL-CM -- NE006 -- 9392 08/04/93 12:50 EDT
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Publication:PR Newswire
Date:Aug 4, 1993
Words:337
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