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WILLCOX & GIBBS ANNOUNCES SPECIAL STOCKHOLDERS MEETING

 NEW YORK, Jan. 4 /PRNewswire/ -- John K. Ziegler, chairman of Willcox & Gibbs, Inc. (NYSE: WG), announced that W&G had called a special meeting of its stockholders to be held on Feb. 24, 1994, to act on the previously disclosed agreement by W&G to sell to Rexel, S.A. (formerly known as Compagnie de Distribution de Materiel Electrique) 3,491,280 newly issued shares of W&G common stock at a price of $9 per share in cash, for a total purchase price of $31,421,520. The New York Stock Exchange has advised W&G that stockholder approval is necessary for the listing of such shares on the Exchange. W&G has set Jan. 21, 1994, as the record date for determining holders of record of W&G common stock who will be entitled to vote at the meeting.
 Willcox & Gibbs is the nation's fifth largest distributor of electrical parts and supplies, with pro forma 1993 sales of approximately $1 billion. W&G operates 170 distribution centers in 18 states, principally in the southern tier of the United States.
 -0- 1/4/94
 /CONTACT: John K. Ziegler, chairman and CEO of Willcox & Gibbs, 212-869-1800/


CO: Willcox & Gibbs, Inc. ST: New York IN: SU:

GK-TW -- NY051 -- 9017 01/04/94 16:01 EST
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Publication:PR Newswire
Date:Jan 4, 1994
Words:214
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