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Investor Contact: 781-622-1111
Media Contact: 781-622-1252
THERMO FIBERGEN ANNOUNCES REDEMPTION RESULTS
WALTHAM, Mass., October 2, 2000 - Thermo Fibergen Inc. (ASE: TFG) announced
today that holders of its common stock and common stock redemption rights have
surrendered for redemption 2,713,451 shares of Thermo Fibergen common stock at a
redemption price of $12.75 per share. The redemption period began on September
1, 2000, and concluded at 5:00 p.m. EDT on September 30, 2000.
Following the redemption period, 11,459,149 shares of Thermo Fibergen
common stock remain outstanding - 10,419,350 shares are held by Thermo Fibertek
Inc. (ASE: TFT), Thermo Fibergen's parent company; 14,550 shares by Thermo
Electron Corporation (NYSE: TMO); and 1,025,249 shares by shareholders other
than Thermo Fibertek and Thermo Electron.
Thermo Fibergen Inc. designs, builds, owns, and operates fiber-recovery and
water-clarification plants to help pulp and paper mills improve product quality,
reduce costs, and close the loop in their water and solids systems. The company
cleans and recycles water and long fiber to be reused in papermaking and
converts the remaining solids into commercial products such as dust-free
agricultural carriers, oil and grease absorbents, and cat box fillers. The
company also develops, produces, and markets fiber-based composites primarily
for the building industry, such as fencing and siding. Thermo Fibergen is a
public subsidiary of Thermo Fibertek Inc., another Thermo Electron company. More
information is available on the Internet at
http://www.thermo.com/subsid/tfg1.html.
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