FOR IMMEDIATE RELEASE: Friday, May 12, 2000
CONTACT: Terry H. O'Neal, President
Steve Wallace, CFO
EFI Electronics Corporation
801-977-9009
EFI ELECTRONICS COMPLETES MERGER WITH SQUARE D COMPANY
SALT LAKE CITY, UTAH - EFI Electronics Corporation (OTCBB) announced
today that the EFI Shareholders have approved the merger agreement for
the acquisition of EFI Electronics by Square D Company at $1.50 per
share in cash and that following such approval the Certificate of
Merger was filed in Delaware completing the merger. Under the terms of
the merger, EFI became a Wholly-owned subsidiary of Square D Company.
Square D is a market-leading supplier of electrical distribution,
industrial control and automation products, systems and services. It is
the flagship brand of the North American Division of Schneider
Electric, headquartered in Paris France. Schneider Electric is a global
electrical industry leader with 1999 sales of approximately $8.9
billion.
EFI is a leading supplier of consumer, business and industrial power
protection products, including plug-in surge protectors and industrial
hardwired products. More information on EFI products is available via
the company's Internet Web page: www.efinet.com.
