Thermo Electron Reaches Agreement to Sell Thermo Trilogy

Apr 11, 2001, 01:00 ET from Thermo Electron Corporation

    WALTHAM, Mass., April 11 /PRNewswire/ -- Thermo Electron Corporation
 (NYSE:   TMO) announced today that it has reached a definitive agreement to sell
 all the assets of its 80 percent-owned Thermo Trilogy Corporation business to
 Mitsui & Co., Ltd. for approximately $25 million in cash, subject to a post-
 closing adjustment. The agreement is expected to close at the end of April,
 subject to customary conditions.
     (Photo: http://www.newscom.com/cgi-bin/prnh/20001030/TMOLOGO )
     Based in Columbia, Maryland, Thermo Trilogy is a leading manufacturer of
 environmentally friendly agricultural pest-control products. It had revenues
 of approximately $30 million for its latest fiscal year, which ended September
 30, 2000.
     Mitsui & Co., Ltd. is Japan's largest sogo shosha, or general trading
 company. The company has two principal roles: to facilitate its clients'
 international trade-related activities, and to make use of its substantial
 information, human, financial, and other resources to create new trade flows,
 new enterprises, and new industries around the world.
 
     Thermo Electron Corporation is a leading provider of analytical and
 monitoring instruments used in a broad range of applications, from life
 sciences research to telecommunications to food, drug, and beverage
 production. In addition, Thermo Electron serves the healthcare market through
 a family of medical companies, and is a major producer of paper recycling
 systems and provides fiber-recovery products. As announced on January 31,
 2000, the company has initiated a major reorganization that would transform it
 into one publicly traded entity focused on its core instruments business. The
 company's medical products and paper recycling businesses will be spun off as
 dividends to Thermo Electron shareholders. More information is available at
 http://www.thermo.com.
 
     The following constitutes a "Safe Harbor" statement under the Private
 Securities Litigation Reform Act of 1995: This press release contains forward-
 looking statements that involve a number of risks and uncertainties. Important
 factors that could cause actual results to differ materially from those
 indicated by such forward-looking statements are set forth under the heading
 "Risk Factors" in the company's Annual Report on Form 10-K for the fiscal year
 ended December 30, 2000.  These include risks and uncertainties relating to:
 integration of the company's instrument businesses, the ability to improve
 internal growth, liquidity and prospective performance of the subsidiaries to
 be spun off, the company's guarantee of obligations of the subsidiaries to be
 spun off, the effect of exchange rate fluctuations on international
 operations, potential impairment of goodwill, the need to develop new products
 and adapt to significant technological change, dependence on customers that
 operate in cyclical industries, the effect of changes in governmental
 regulations, and dependence on customers' capital spending policies and
 government funding policies.
 
 

SOURCE Thermo Electron Corporation
    WALTHAM, Mass., April 11 /PRNewswire/ -- Thermo Electron Corporation
 (NYSE:   TMO) announced today that it has reached a definitive agreement to sell
 all the assets of its 80 percent-owned Thermo Trilogy Corporation business to
 Mitsui & Co., Ltd. for approximately $25 million in cash, subject to a post-
 closing adjustment. The agreement is expected to close at the end of April,
 subject to customary conditions.
     (Photo: http://www.newscom.com/cgi-bin/prnh/20001030/TMOLOGO )
     Based in Columbia, Maryland, Thermo Trilogy is a leading manufacturer of
 environmentally friendly agricultural pest-control products. It had revenues
 of approximately $30 million for its latest fiscal year, which ended September
 30, 2000.
     Mitsui & Co., Ltd. is Japan's largest sogo shosha, or general trading
 company. The company has two principal roles: to facilitate its clients'
 international trade-related activities, and to make use of its substantial
 information, human, financial, and other resources to create new trade flows,
 new enterprises, and new industries around the world.
 
     Thermo Electron Corporation is a leading provider of analytical and
 monitoring instruments used in a broad range of applications, from life
 sciences research to telecommunications to food, drug, and beverage
 production. In addition, Thermo Electron serves the healthcare market through
 a family of medical companies, and is a major producer of paper recycling
 systems and provides fiber-recovery products. As announced on January 31,
 2000, the company has initiated a major reorganization that would transform it
 into one publicly traded entity focused on its core instruments business. The
 company's medical products and paper recycling businesses will be spun off as
 dividends to Thermo Electron shareholders. More information is available at
 http://www.thermo.com.
 
     The following constitutes a "Safe Harbor" statement under the Private
 Securities Litigation Reform Act of 1995: This press release contains forward-
 looking statements that involve a number of risks and uncertainties. Important
 factors that could cause actual results to differ materially from those
 indicated by such forward-looking statements are set forth under the heading
 "Risk Factors" in the company's Annual Report on Form 10-K for the fiscal year
 ended December 30, 2000.  These include risks and uncertainties relating to:
 integration of the company's instrument businesses, the ability to improve
 internal growth, liquidity and prospective performance of the subsidiaries to
 be spun off, the company's guarantee of obligations of the subsidiaries to be
 spun off, the effect of exchange rate fluctuations on international
 operations, potential impairment of goodwill, the need to develop new products
 and adapt to significant technological change, dependence on customers that
 operate in cyclical industries, the effect of changes in governmental
 regulations, and dependence on customers' capital spending policies and
 government funding policies.
 
 SOURCE  Thermo Electron Corporation

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http://www.thermo.com