TECHNOLOGY - Feb. 15, 1995
Compiled by Ross Kerber, Times staff writer
Debt Notes: Rockwell International Corp. in Seal Beach sold $500 million of corporate debt Tuesday to help it in its recent acquisition of Reliance Electric Co., which makes industrial and telecommunications equipment.
Rockwell sold $300 million of three-year notes and $200 million in 10-year notes, according to spokeswoman Christine Castro.
Rockwell completed its acquisition of Reliance, which is based in Cleveland, at the end of January for $1.6 billion in cash. Rockwell had taken control of Reliance last December when it acquired a majority of the company’s stock. It is merging most of Reliance into its Allen-Bradley industrial automation business and is now selling off other parts of the company, including its Comm-Tec unit.
