GH Electrothermia to Purchase Majority Interest in Induction Atmospheres

“Induction Atmospheres is very excited to become part of the worldwide GH Group”, said IA President and CEO Steve Skewes. “They will provide international sales and service for our turnkey induction heating systems, and we will bring sales, service and production of the highly respected GH product line into the United States.”

“Induction Atmospheres brings new products and markets to the worldwide GH Group”, said GH Group President José Vicente González. “With their staff and facilities we will be able to effectively deliver our induction heating systems into the United States. This is exactly the type of synergistic relationship we were looking for in a US based company. We are very excited about the future of our companies.”

“Both companies use the same computer design systems for product development, so we're looking forward to advanced engineering collaboration and easy product design transfer.” continued Mr. Skewes. “This really is one of those rare win-win business scenarios, and we look forward to a long and profitable relationship.”

Induction heating is a non-contact, fast and accurate heating method which saves manufacturers space, time and money. Recently selected by Industrial Heating Magazine as one of “10 Technologies to Watch” in its January 2009 edition, Induction Atmospheres systems provide a very lean, environmentally sound, energy-efficient industrial heating process that reduces fossil fuel consumption.

GH’s purchase is subject to customary provisions and requirements, with completion of the transaction targeted by the end of 2009.