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Technology Stocks : Intermagnetics (IMG)

IMG 0.192

-0.1%

Nov 6 3:59 PM EST

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To: Gregg who wrote (3095)	6/10/1999 10:30:00 AM
From: Wafa SHIHABI	Read Replies (1) of 3448

Intermagnetics General Corp. Dow Jones Newswires -- June 10, 1999 DJ Intermagnetics Closes Buy Of Joint Venture Assets LATHAM, N.Y. (Dow Jones)--Intermagnetics General Corp. (IMG) acquired the manufacturing rights and licenses of its Belfort, France, joint venture with Alstom SA (ALS) of Paris. Financial terms weren't disclosed. In a press release Thursday, Intermagnetics said the acquisition also includes certain capital equipment, inventory and intellectual property. Intermagnetics said in March that the joint operations, with annual revenue of about $15 million, could increase its current revenue by 15%. Intermagnetics had 1998 sales of $96 million. Alstom supplies components, systems and services for power generation and distribution. Intermagnetics makes superconducting magnets, wire and cable, and refrigeration equipment. -Christian Zwahlen; 201-938-5388

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