EXHIBIT 99




                     THERMO FIBERTEK ANNOUNCES CONVERTIBLE 
                         SUBORDINATED DEBENTURE OFFERING

             WALTHAM, Mass., July 10, 1997 -- Thermo Fibertek Inc.
        (ASE-TFT) today announced that it has entered into an agreement
        to sell at par $150 million of 4-1/2 percent subordinated
        debentures due 2004. The debentures will be convertible into
        shares of common stock at a price of $12.10. The debentures are
        guaranteed on a subordinated basis by Thermo Electron Corporation
        (NYSE-TMO). The debentures will not be registered under the
        Securities Act of 1933 and may not be offered or sold in the
        United States absent registration or an applicable exemption from
        the registration requirements of the Act.






        AA971890035