| Deal Description | Beckman Instruments, Inc., was to use a portion of the net proceeds from this deal to repay short-term bank loans incurred since June 30, 1960, to help defray the cost of plant expansion and new equipment. A portion of the proceeds was to be used for further expansion of production and engineering facilities. Any balance of proceeds was added to the company's general funds, available for corporate purposes. At the time of the transaction, the company was in the process of completing and equipping new construction, which would add approximately 100,000 square feet of floor space to its Fullerton, California plants. The Fullerton plants constituted the principal manufacturing, research, development, and engineering facilities of the company and housed the company's executive offices. The expansion in Fullerton permitted the discontinuance of the use of 60,000 square feet of space leased by the company in Anaheim, California. |
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