GenRad to Divest Diagnostics Unit


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-- Westford, Mass.-based GenRad Inc. announced in early August 2001 that it will divest its Diagnostic Solutions business unit, and is entertaining an offer from a British investment consortium.

"The diagnostics business has a strong future," said Richard Miles, vice president of global communications for GenRad. "But it is not central to GenRad's core competencies of test and measurement, which we see as providing the best return on investment. We want to allow it to prosper in an area where it can prosper."

Miles added that the sale is not a negative comment on GenRad's opinion of the diagnostics business.

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