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WINDMERE RECEIVES $57 MILLION ANTITRUST PAYMENT; COMPANY WILL USE $30 TO $35 MILLION IN NET PROCEEDS TO REDUCE DEBT

 WINDMERE RECEIVES $57 MILLION ANTITRUST PAYMENT;
 COMPANY WILL USE $30 TO $35 MILLION IN NET PROCEEDS TO REDUCE DEBT
 MIAMI LAKES, Fla., May 11 /PRNewswire/ -- Windmere Corporation (NYSE: WND) announced today that it has received a $57,000,000 cash payment from North American Philips Corporation resulting from the settlement of its antitrust lawsuit with North American Philips.
 Windmere estimates that its net proceeds from this settlement, after the payment of legal fees, taxes, costs and other anticipated expenses, will be $30,000,000-$35,000,000. The company intends to use these net proceeds to significantly reduce its outstanding debt.
 Windmere is a leading manufacturer and distributor of personal care products and other merchandise for the home and professional salons, including hairdryers, curling irons, kitchen appliances, and dental care appliances.
 -0- 5/11/92
 /CONTACT: John Heinlein of Windmere, 305-362-2611/
 (WND) CO: Windmere Corporation; North American Philips ST: Florida IN: HOU SU:


TQ-14:36 -- NY083 -- 8733 05/11/92 15:04 EDT
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Publication:PR Newswire
Date:May 11, 1992
Words:163
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