| Westford,
MA -- October 26, 2001 -- Shareholders of GenRad,
Inc., [NYSE: GEN] today voted overwhelmingly to merge
their company with a subsidiary of Teradyne, Inc., [NYSE:
TER]. The parties expect to complete the merger in the
next several days.
In a shareholder meeting convened today at company
headquarters in the Boston suburbs, 99 percent of the
shares voted were in favor of the merger: 20.8 million
shares "For," and about 147,000 "Against."
GenRad was founded in 1915 as the General Radio Company,
one of the nation's original electronics manufacturing
firms. In 1975, the company adopted the abbreviated
name GenRad and on June 9, 1978, the company was listed
on the New York Stock Exchange under the symbol GEN.
GenRad's current operations, which span the globe,
will merge into Teradyne's Assembly Test Division. The
resulting division will be the world's leading electronic
test and inspection enterprise offering hardware, software,
service and support solutions to electronic manufacturers
in the contract, original equipment, military-aerospace
and public sector markets.
GenRad Chairman, President and CEO Robert M. Dutkowsky
has been named president of the new Assembly Test Division
reporting to Teradyne Chairman and CEO George W. Chamillard.
Additional information about the merger is available
at Teradyne's Web site, www.teradyne.com.
For more information contact:
Richard M. Miles
Telephone: 978-589-7144
|
