Printer Friendly

TRANSTECHNOLOGY TO SELL FEDERAL LABORATORIES DIVISION

 UNION, N.J., Jan. 13 /PRNewswire/ -- TransTechnology Corporation (NYSE: TT) announced today that it had entered into a letter of intent with Mace Security International, Inc. (NASDAQ: MACE) to sell its Federal Laboratories division. Federal Laboratories is the nation's oldest producer of tear gas and a leading producer of other law enforcement products. The transaction is subject to the completion of due diligence and other contingencies and is expected to be completed during the Company's fourth quarter ending March 31, 1994.
 Michael J. Berthelot, Chairman, President and Chief Executive Officer of TransTechnology, said, "This agreement marks another point in our continuing efforts to focus our management efforts and resources into those businesses which provide the core of our Company's revenues and profitability. We believe that the acquisition of Federal Laboratories by Mace will provide them with industry leadership in all segments of the personal protection spray and tear gas markets."
 TransTechnology Corporation is a diversified manufacturer of industrial and aerospace products with over 1,100 employees in its nine facilities in the U.S. and those in England, Belgium and Australia.
 -0- 1/13/94
 /CONTACT: Michael J. Berthelot, Chairman, President and CEO of TransTechnology, 908-964-5666/
 (TT MACE)


CO: TransTechnology Corporation; Mace Security International, Inc. ST: New Jersey IN: ARO SU:

SH-MP -- NY031 -- 1746 01/13/94 10:04 EST
COPYRIGHT 1994 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1994 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jan 13, 1994
Words:220
Previous Article:HARRIS BANKCORP INTRODUCES NEW SMALL BUSINESS LENDING RATE; BANK LAUNCHES A TWO-YEAR INITIATIVE
Next Article:BELL ATLANTIC ANNOUNCES CHOICES FOR DIGITAL ENTERTAINMENT TERMINALS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters