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WILLCOX & GIBBS' STOCKHOLDERS APPROVE CDME TRANSACTION

 WILLCOX & GIBBS' STOCKHOLDERS APPROVE CDME TRANSACTION
 NEW YORK, Oct. 8 /PRNewswire/ -- Willcox & Gibbs, Inc. (NYSE: WG)


said that its stockholders had overwhelmingly approved the transaction with Compagnie de Distribution de Materiel Electrique at W&G's annual stockholders' meeting today.
 The transaction provides for the acquisition of CDME of 30 percent of the outstanding stock of W&G. In connection with the transaction, W&G said it intends to distribute as a dividend to the W&G shareholders (other than CDME) the stock of W&G's covered yarn manufacturing business.
 Consummation of the transactions, subject to satisfaction of certain remaining conditions, is expected in November 1992.
 -0- 10/8/92
 /CONTACT: Richard J. Mackey, president of Willcox & Gibbs, 212-869-1800/
 (WG) CO: Willcox & Gibbs; Compagnie de Distribution de Material Electrique ST: New York IN: SU:


MK-CC -- NY078 -- 7989 10/08/92 15:24 EDT
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Publication:PR Newswire
Date:Oct 8, 1992
Words:142
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