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WESTINGHOUSE, NYLIFE FORM CO-VENTURE

 WESTINGHOUSE, NYLIFE FORM CO-VENTURE
 NEW YORK, Jan. 24 /PRNewswire/ -- Westinghouse Electric Corp. and


NYLIFE Bridge Investor, Inc., today announced an agreement to identify, evaluate and acquire security alarm monitoring contracts. The accounts will be monitored by Westinghouse Security Systems at its state-of-the-art facility in Las Colinas, Texas.
 Initial financing consisted of an equity contribution by NYLIFE Bridge Investor, Inc., and bridge debt financing by a major lending institution.
 Headquartered in Baltimore, Westinghouse's Electronic Systems Group entered the electronic security monitoring business in 1990 as a part of its effort to diversify into non-Department of Defense markets. Westinghouse Security Systems is now the fourth-largest residential alarm monitoring company in the United States, monitoring more than 100,000 homes in 46 areas across the nation. NYLIFE Bridge Investor, Inc., is an indirect subsidiary of New York Life Insurance Company.
 -0- 1/24/92
 /CONTACT: Bryan Wiggins of Westinghouse Electronic Systems Group, 301-993-6320/ CO: Westinghouse Electronic Systems Group; Westinghouse Electric
 Corp.; NYLIFE Bridge Investor, Inc.; New York Life Insurance
 Company ST: New York, Maryland IN: CPR SU:


DC-SB -- DC024 -- 3387 01/24/92 15:11 EST
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jan 24, 1992
Words:183
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