Document 06kkMNb9MvB6BRby0Rdj34O4d

FILE NAME: Crane Company (CRC) DATE: 1960 Jan 13 DOC#: CRC029 DOCUMENT DESCRIPTION: Newspaper Article - New York Times H. K. PORTER CO. The H. K. Porter Companv. Inc., Pittsburgh diversified in dustrial concern, is entering the paint business through purch ase of more than 90 per cent of the stock of Patterson-Sargent Company of Cleveland, Ohio, T. M. Evans, Porter chairman, announced yesterday. Patterson-Sargent makes | house paints, industrial, rail road, marine and product fin ishes and specialties under tfie BPS trade-mark. It operates j plants at Cleveland and Long Island City, Queens. Sales ex ceed $10,000,000 a year. The company employs close to 700 and has assets exceeding $5,000,000. The stock was acquired for $22.50 a share. The transaction would involve about $4,000,000, based on the 200,000 shares Continued on Page 35, Column 4 She *s>tvfjork Smites Published: January 13, i960 Copyright The New York Times Continued From Fage 27 outstanding of an authorized 500,000. Porter has 55 plants in the United States, Canada, Mexico and Europe. Porter divisions produce steel equipment, rubber and friction products, asbestos textiles and other products. Published: January 13, 1960 Copyright Th New York Times