Document 3Q8vYB5Qk9O7byV3b9GbbdnY3

FILE NAME: Crane Company (CRC) DATE: 1958 DOC#: CRC025 DOCUMENT DESCRIPTION: Newspaper Articles - New York Times H. K. P orter Would Be the Survivor m Deal W ith Therm oid, if Approved H. K. Porter Company, In c , announced yesterday R would merge v,ith the Thermoid Com pany under a plan which would make Porter the surviving com pany The plan, agreed on by direc t o r or the two companies but still subject to approval by the respective stockholders, would give Thermoid shareholders one share of 5 per cent cumula tive preference stock in the sur- vivtng company fo r each six shares of Thermoid common Haiders of Porter common stock and 4% per cent preferred wilt receive similar shares in the surviving corporation ao a share-fer-iare basis , H. K, P o rter and its subsid-l laries make industrial rubber, products, forged steel fillings and electrical devices. It had sales last year of $153,503,018 and net Income of $0.351,264 The TMhnid Company ^nd Ua subsidiaries make automo tive friction and rubber prod ucts, and hard and soft rubber molded goods and plastic prod ucts Its net profits last year amounted to $996,930 on sales Of $39,528,158 ELECTRIC AUO.L1TE 225.200 Share* of the Crane Co. Acquired Thus F ar m '58 The Electric Auto-Lite Com pany bas acquired 9 '/a per cent of the outstanding capita. ' -k of the Crane Company, the! the Auto-Lite nine-months' re port disclosed yesterday Auto-Lite said th at it bought 226.200 shares of Crane stock; this year through yesterday The company said the stock was bought "as an investment a t am aggregate cost nf $0,997.952 " Auto-Lite had previously an nounced th at it was seeking di versification. The Crane Company makes valves, fittings, fabricated pip ing and accessories, plumbing fixtures and accessories. Elec tric Auto-Lite is a leading man ufacturer of lighting, starting and ignition equipment for mo tor cars, trucks, and tractors NEW TEXTRON PURCHASE Precision Atethodf Aquired, Second Deal m 2 Days T exlron^lne, announced yes terday its second acquisition in as many days I t satd it had purchased Precision Methods and Machines, In c, of W ater- bury, C onn, for 51,027 shares of newly-itsued Textron com mon stock ' On Thuisday, Textron reached (an agreement to purchase the American Screw Company of WlUimantic, Conn., tor $5,897, M0. Stockholders of American Screw will meet on Nov 12 to vote on the proposal. Precision Methods designs and manufactures precision components for the Sendzimlr Rolling Mills, parts, for radar antennae and accessories tor atomic reactors. Textron makes textiles, eluminum products, in dustrial batting, metal parts and other items. OTHER SALES, MERIj ERS Avco M anufacturing Cerp. About half of the facilities of its AK Division, Connersviile, I n i , have been sold by theAvco Manufacturing Corporation, ef fective Dec, 31. 8am N Rcgenstrcii ot Conncrsvjiie is the pur chase!. The facilities affected have been making dishwashers for other manufacturers, pre fabricated service stations and .porcelain panels The remain ing facilities will be devoted to [Continued oa P age 28, Column 8 JJorkSiwir PuiiShtt Nom-TW I loss Cop>' <yJC ThNfVomT.V i COMPANIES PLAN SALES, MERGERS Continued.From Page J24 Manufacturing under Govern ment defense contracts. Badger Manufacturing The Badger Manufacturing Company, Cambridge, Mass., contract engineers, has acquired the remaining 50 per cent inter est in BadgertCoipprimo N. V,, Amsterdam. It is now th sole owner following th purchase from Comprimo N. V. The name ha6 been changed to Badger N. V. The Netherlands concern was formed in September, 1956, to provide engineering, procure* meni and construction services to the petroleum, chemical, pharmaceutical and nuclear power industries. . Hunt Foods and Industries An agreement on the merger into Hunt Foods and Industries, Inc., Fullerton, Calif., of nine 'subsidiaries and associated com panies was approved by stock holders yesterday. Stockholders Iof the other companies already, have approved the merger. Ha- rojd M. Williams, vice presi dent, said the merger will'sim plify the present corporate strue'tuVe nd reduce costs. It also 'will permit further diver sification, he added. IFttsburgh Plate Glass The Pittsburgh Plate Glass Company said yesterday it would acquire the Barium Re duction Corporation, a maker of barium chemicals, related by- products and carbon bisulfide. The company said' .it would |make the. acquisition through .a. stock deal, the terms of which were not -disclosed. Pittsburgh Plate Glass is tt become the new owner on Nov. 17. 1 Shelton-Warren Oil All of the assets of Lutah Uranium and Oil, Inc., Roswell, N. M., have been purchased by The Shelton-Warren Oil Com pany of the same city. Stock holders of both companies will Vote on the purchase the middle of this month. When the acquisi tion is Completed, Shelton-War- ren with have 1,550,000 shares Oi $X par value stock outstand ing. Authorized capitalization consists of 5,000.000 shares of. capital stcok. - <Sljf Jfcutijork Sluice Published November 1, 1958 Copyright The New York Times