Press Release
Thermo Terratech Announces Ford Quality Certification of Holcroft Subsidiary
12/05/96
Thermo Terratech's Holcroft Subsidiary Earns Q1 Certification From Ford Motor Company WALTHAM, Mass., Dec. 3 -- Thermo TerraTech (AMEX: TTT) announced today that its Holcroft subsidiary, based in Livonia, Michigan, has been granted Q1 (Quality 1) certification by Ford Motor Company . Holcroft is a major supplier of metallurgical heat-treating furnaces to the automotive industry. Q1 is an internationally recognized certification that Ford confers on its suppliers and its own plants and activities when they meet the company's highest quality standards. Holcroft supplies Ford with custom-engineered systems used to heat treat automotive drive-train components such as transmission gears. "Holcroft is the first furnace manufacturer in the world to earn Q1 certification," said John P. Appleton, president and chief executive officer of Thermo TerraTech. "This recognition speaks to the close relationship between Ford and Holcroft, and affirms our company-wide commitment to quality." Thermo TerraTech Inc. provides environmental services and infrastructure planning and design, encompassing a broad range of specializations including consulting and design, the remediation of soil and fluids, laboratory testing, and metal treating. Thermo TerraTech is a public subsidiary of Thermo Electron Corporation. This press release contains forward-looking statements that involve a number of risks and uncertainties. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are set forth in Item 5 of the company's Quarterly Report on Form 10-Q for the quarter ended September 28, 1996. These include risks associated with dependence of the company's businesses on environmental regulation, potential environmental and regulatory liability, intense competition, development and commercialization of technology, and possible obsolescence of the company's services due to technological change; risks associated with the company's acquisition strategy and its strategy of spinning out subsidiaries; and uncertainties associated with the availability of government funding and the effect of seasonal influences on the company's performance.