Document J3vJ76zbpmrb5EQ12qmvLZ5Kv

ANN UA L RK V 0 R T FOR T II 10 FISCAL YEAR RNDKP NOVEMBER .30, 1 9f>S T I E EAGLE-PI CIIER COMPANY EXECUTIVE OFFICES: CINCINNATI. OHIO - V ;^sv : :. . -. ; v;. c-C: ' :.. . '. ." V '" ' [ .O/^C'CCC.:. : a :, :;A A :.;: :/ ,V :V?i ;/ . ' ,; - ;.v\. .; '- /, .. , :' ' - ; ` ' ' V '- -V;. : ' ' . : , . : . -> ;. ' , `` 4.:>"Ov . - ' . N11817 TO OUR SHAREHOLDERS: Net salt's of Tho Kagle-Picher Company for tho fiscal year ended November 80, 1958 were ^98,1:52,(HIT compared with net sales of $117,752,(55)4 for the preceding year, a decline of Hi.7' Netprofit, for 15)58 amounted to $2,090,094, equivalent, to $2.08 per share, compared with net profit of $4,2(5(5,70(5, or $4.25 per share, for 15)57. Dividends aggregating $2.20 per share were paid ' in both years. ' ., . As at November 80, 15)58, net, worth was $.-10,71(5,257, equivalent to $40.4(5 per share. Expansion The.new dintomaceous earth plant at Colado, Nevada was completed and commenced operations in September. 'Kilter-aid material for the chemical, pharmaceutical, sugar refining, brewing and other industries is now-being made at this plant. The Company has played a major role in the development and manufacture of special purpose batteries for defense, used principally in missiles and rockets. Kor example, the battery in the Atlas missile carrying President Eisenhower's Christmas message from outer space to all corners of the earth was developed and produced by Kagle-Pieher in conjunction wiLh the United States Army Signal Corps. Increased activities in this area may be expected as these scientific.programs...; progress further. New equipment has been installed at (he zinc smelter in Henryetta, Oklahoma, resulting in a material increase in capacity and reduced costs. Sales .... . . :,: . . Net sales for the fiscal year-ended-November 150, 15)58 amounted to $98,182,(>(>7 compared with $11.7,752,(55)4 for the previous year, a decline of 1(5.70,',. All divisions of the Company recorded lower sales for the year, reflecting not only reduced production but also a high rate of inventory .liquidation by many important customers in the automobile, steel, building, household appliance, electronic and other .basic industries. Sales of the Mining and Smelting Division showed a sub stantially larger percentage decrease than those of the five manufacturing divisions, as lower metal prices accompanied reduced consumption. The Company's sales by quarters declined steadily throughout 15)57 and the first half of 1958. A small rise in the third quarter of 1958, which was NET WORTH PER SHARE . : (At. Novcmltor :l0i .,, . (Hast'd on present capitalization)- The Gora-Lee plant at Stratford, Connecticut, which manufactures small molded - rubber parts, is being enlarged in both floor space and productive capacity. ;.... . , 1949 1950 1951 1952 1953 1954 1955 1956 1957 1958 contra-seasonal, still left, sales below the corre sponding period of Hi;")?. Sales recovered strongly in the final quarter of 1958 to a level exceeding the same period of l!)f>7 and closer to the rate for the first half of 1957. '1'he gain in the fourth quarter of 1958 would have boon even larger except for shutdowns which in!errupted aulomobile produc tion (luring September and ()ct ober.: line with many other industrial companies, break even points were lower than had been anticipated. The.'Company' continued its policy of straight line depreciation, and.as a result, even with lower volume of production, .provision for..depreciation and depletion'exceeded that, of the previous year. Kj i filings Net profit for the fiscal year ended November MO,'. 1958 amounted (o $2,090,094, e(|uivalenf to $2.08 per share, compared, with $4,260,700, or $4.27) per share, in 11)7)7. ..Each of the live manufacturing divisions operated at a profit,. 'The trend of earnings followed that of sales. After declining throughout...most of 1957 and the firstmine months of 1958, profits recovered sharply in the final quarter. Kxpenscs were reduced in many sectorsof t he business and gross profit per centages-were-surprisingly well maintained. In Itnhmce Sheet Shareholders' net. .worth at.-November. MO, 107)8 was $40,71 (5,27)7, or $40.4(5 per share, as-compared with $40,87)8,2(52, or $40.74 per share, at Novem ber 20, li)7>7. Working capital at November 20, 107><S amounted t.o $27,1)20,2(37, a slight increase over the corresponding figure of $27,780,595 a year earlier, and a new all-time high. -Cash-and United Stales (lovernmenl. obligations aggregated $7,219,071, as compared with $11,472,701 at. November 20, 107)7, a decrease of $4,17)2,720. SUMMARY OF NFT WORTH SltARKI lOI/DURs' NUT .WORTH.............. No v u m unit 20, 107>S Amo u n t Pu r Sh a r k $40,71(5,27)7 $40.4(5 Tuts Ow n k r s ih p Wa s Rk r r k s k n t k o Working capital (current asefs less current, liabilities)................... Net fixed assets.................................... Of her assets. . `...................................... Total................................................ $27,020,207 24,008,928 4,920,841 $27.74 22.8(5 4.89 $50 40 Fr o m Wh ic h Mu s t Hu Du d u c t u d : Long-term debt.................................... Reserves................................................ Total................................................ Sh a r u h o u o u r s ' Nu t Wo r t h .. $15,000,000 1,122,770 $1(5.122,779 $40,71(5,257 $14.90 1.12 $16.02 $40.46 No v k mh k r 20, 1052 Amo u n t Pu r Sh a r i $20,(54(5,04 7) $20 08 $25,808,740 17,582,987) 2,122,442 $4(5,515.177 $2(5 .09 17 78 2 .15 $47. 02 $15,000,000 869,122 $15,869,122 $20,646,045 $15.16 0.88 $16.04 $20.98 Net fixed assets of $24,008,928 at November 8(1, 15)58 were $459,058 above the comparable figure of $28,549,875 a year earlier, reflecting the full reinvestmentof funds: derived from depreciation, depletion and amortization charges. DIVIDENDS PAID PER SHAKE .`OtU-rwiar. Dividends Dividends paid during: 1958 amounted to $2.20 per share. A similar amount, was paid in 1957, compared with $2.00 per share' in 195(5, $1.80 per share in 1955, and $1.50 per share in 1954. The Company has now paid dividends in each of the last 28 years, and the 'dividend payable in March 1959 will mark the 7(5lh consecutive quarterly, payment,. Directors . We record with profound regret and deep sorrow the passing on September 1(5, 15)58 of Mr. William H. Mitchell, .President of the Mitchell Steel Company and a Director of The Hagle-Richer Company since March 1951. His wealth of experi ence, wise counsel, breadth of vision, and unselfish contribution of his time and effort were of immeasurable benefit. Mr. John J. Rowe, formerly Chairman of the Hoard and President of The Fifth Third Union Trust Company retired as a Director at the time of the Annual Meeting in March. He had been a constructive, conscientious, and influential mem ber of the Hoard of Directors of 'The Eagle-Picher Company for 22 years,during which period the Company enjoyed substantial growth. On February 5, 1958, Mr. David M. Forker, Jr., President of The Win. Powell Company, and Mr. Arthur W. Schubert, Executive Vice 1'resident of Emery Industries, Inc., were elected members of the Hoard of Directors. Mr. George A. Spiva, President of Spiva In vestments Company, was re-elected to the Hoard of Directors on November 5,1958. Mr. Spiva, who served as a Director from 1951 to 1957, retired temporarily because of reasons of health hut it is gratifying that; he is again a member of the Hoard. < leneral While results of the past year were disappoint ing,. we believe that considerable- progress, was made in expanding and improving the earning power of the Company. Dividends were main tained at the highest rate in the Company's history and capital expenditures exceeded de preciation and depletion provisions, while a strong financial position was.maintained.. We have de veloped new products and have gained position in most industries.we serve. Rather than retrenching during the period of declining si|iles, we have adhered to the program of growth and-development adopted in 1952. The Company in the past two years spent over $9,000,000 on three projects purchase of the Chicago' Vitreous- Corporation and The Gora-D-e Corporation, and construction of the Colado plant which represents a substantial percentage of present net worth. Sales and profits currently are running at a con siderably higher level than at the same time a year ago. It appears that 1959 will not only be a good year for industry generally but also for The Eagle-I'icher Company. Cincinnati, Ohio January 28, 1959 t i ii : i: a (; l i: -1* i (' ii i; n c o mp a n y 1 1 1 >\>l,] 1 i 1 \ Xj;pr A,\t `1 st't 4 ASSKTS 1 958 1957 CCRRKNT ASSKTS Cash . . ... ... ... ,,.... P. S. CovernnunH obligations at cost (approximate market ). ...................... ............... .. .... .. Accounts and notes receivable; less allowance lor doubtful receivables, $348,ois and $359.209................................................................................. Inventories of raw materials, work in process, finished products, and supplies (note 1)................... ........................................................................ To t a l OlIRKKNT ASSKTS. . . ............................................... ... $ 7,.lK3*K).r 135,100 1 l.S-17,113 18,991,933 U8.ir.M17 $ 7,:599,:594 815,855 11,310.753 17,024,084 .`5(5,555,086 OTiiKR ASSKTS Repair parts and maintenance supplies.. . . . ...... ... ..................... .. . Investments, at or below cost, and miscellaneous accounts and advances 842,994 1,254,5:12 2,097,52(5 867.276 1,443,373 2.310,64 9 PROPERTY, PLANT AND KQPIPMKNT, AT COST........... Li'ss: Allowance for depreciation, depletion, etc.,. ................... . . (54,91)8,01(5 40,899,088 24,008,928 62,105,923 38,556,048 PATKNTS, AT COST less amortization, $1507,S44 and $131,5)33. 1,7:5(5,055 1,909,58:5 PRKPAII) AND DKKKRRKI) CHARGKS Prepaid freight, insurance, etc........................ Miscellaneous deferred charges...................... -6- 477,1(5(5 010,094 1,087,260 $67,088,18(5 581,246 786,221 1,367,467 $65,692,610 The h (Tomptitrying'' tioli'x'arr A XI) DOMKSTIC SU liS I I) I A H I KS \S -(IT .V,(V l.'.KI lil.vll (t'A LIARiLITIHS IDAS 1957 CFRRFNT LIAHILITIFS Accounts payable............................................................................................ . Dividend payable.......... . .............. -505,328 Accrucdliabilit.ios.......... ................................. ... Federal taxes on income,less II. S.Government. obligations at; cost, ' $2,257,542 at November 20, 1957..... ................. .. ............... ................ To t m, Ci.ir k k n t IiiAmtrntS: : ........... ............ .. $ rf2-17,57S 2,415,8(50. 2,019,284 10,228,150 $ A,`^D5,()D7 .551,635. 2,921,759 8,708,491 LONG-TFRM DKBT 2:inotes, maturing serially to Julv 15, 1974 ('no! e 2).......................................................................... !............ `................ 15,000,000 15,000,000 RKSKRYHS FOR 8FLF-IMSURANCF ;. : . . . . A 1,122,779 1,005,757 H STOCK. HOLD HRS' KQHITY Capital stock par value $10 per share; authorized 1,500,000 shares; issued and outstanding 1,012,077 shares (note 2). . ............... . .10,120,770 10,120,770 Surplus: Capital surplus..................................................................... Famed surplus (note 2)...................................................... Less: Treasury stock, 0,090 and 10,105 shares at cost 2,829,208 28,005,444 40,975,422 259,105 40,710,257 2,009,780 28,127,827 41,208,277 410,015 40,85S,2G2 $G7,0SS,180 ` $05,092,010 lilrtjral: part of this balmier xhcrl. .<. X rrjii: i;.v(nj;-picm<:!i c o a h ^a x ^' a x d ik >mns^ric si'i^sid ia r ii-;s ': v si u i'ii;s is ni i i issni in \ n:n r*i:< h i i ,\\i> i.o s s v n h i:\k n k d s i i:I*m > , -v V KA Its KNI)Rl> NOVKMHKR :ui, 19.Vs AX 1) liir.T : ^ v S,; Xt X:.;\u Xu Uv ? s ;#X Y,'s.f' .- :.."X. ':." :: : . . .. .' -fcXX.,: X,X:' X.XX-C - -.................................... -------------------------- -------------------------------------------------------------------------------------------------------------------------------------------- ---- ------------------------------- ----------------------------------------------------------------------------------------------------- -------------------------- 1 : ' ' : " s'.'. ' ' ' .SS',.-. -S;.--- : "v A,/?. > V. ' . S,' ' , ;,;S V.;;' SS t --.. X^-c . -..-1. - '-x . vv;-. - u- , : . . . . , " :! x - -X".-v--. " ivrnvi.' " ......................... : "S 1!>:,lS ;.V' U-'XXY:'''X V X ;A\ H,;W . ., Ollier income.................................................................................................... X'XX X'; v. :514,021 98,44(5,(588 :J7,4:J0 118,120,124 i- ' ' r;' X ' _ " ' . 1 vX". - . ;. 1 ' - ' . COSTS AN'l) EXPENSES ; Production and manufacturing costs. ::'X;X.XX:'-;;'.. .A..'/. ...a ... ; a;,.; SI,7(5:5,71 a : s.;: Sellings gifitoral and adnvinisl.rat.ive exjk*n.scs'.' f|.. . a X-. . .. 8,827,782 ..'..'.l-TvlVoVision for doinvciution, ddplotion and patonUamorLjzution. . , X'. :?,2!)(>,7.`?1 . interest.............7^':::Vvs ;TM8,:5<5(i ":)4,4oG,5:)4 ' ". `:v'. ' ' ' ' .. . s , ` 9(5,878,87:5 5),917* 180 n 3,21 G.STj H r)7o,d<>8:.>/ ' 110,088,418 . PROFIT FROM OPKRATIONS \ a - ' . s..;:";. , v;..;; . - . .. Staff I axes on income............ hoforo Federal and ^ v . . -; ; ..................................... . :: < s' ; : ^ :/ ,7.:. ' X. 8,990,004 7,0:51,70(5 .. FKDIOKAL AND STAT 14 TAXKS ON INCOMK.. . 1,900,000 :i,2(>o,000 NKT PROFIT FOR YFAR.................................................................................... 2,090,094 4,2(5(5,70(5 KARNFI) SURPLUS AT RFC,INNING OF YFAR................................ 28,127,827 2(5,070,822 .`50,217,921 .`50,:5:57,o28 GASH DIVIDFNDS PAID AND ACGRUFI)........................................... 2,212,477 2,209,701 FARNFD SURPLUS AT FND OF YEAR (note 2)................................ $ 28,00o,444 $ 28,127,827 The ;" < <> in panning notes ore an iuteyral part of this statement. 8 TUI'; U.UiLK-I'IC'HKR COMPANY AND DOMESTIC SUBS1 i)I AM IKS >i)i l;S 1(1 HVWllAI. VIA I'lCMIA I'x N0VKMI5KR .`JO, 1958 1 . Ores, metals and metal bearing products have been valued at the lower of cost or market which has lieen reduced to state basic quantities of .lead and zinc at fixed prices, based on (1.5 cents, per pound for lead1.. (New York') and a cents per pound for zinc (Hast. St. Louis), .under t he base stock method of inventory valuation adopted at'November .'JO, 1 Jl-II). At November 110, 1 DoS basic quantities were 7,000 tons of lead and 18,000 tons of zinc.compared with 0,000 tons of lead and 1(1,000 tons of zinc at November 110, 1957; this shift in basic quantities : had no material effect on operations for tin' year. ..Other .inventories1 have been valued tit. average and standard costs, or dower, which approximate re . placement market. 1 2. Under the provisions of the loan agreement per- taining'to the H23 |, notes due July 15, 1974, the company is required to prepay $1,000,000 on July 15 of each year to maturity commencing in 1900. c ,a Tin- Hi1:,' notes contain a covenant, which, so long a*'any of the notes remain outstanding, restricts the amount, which may lie declared as dividends Hither than those* payable in capital stock of the company i or applied to the purchase, redemption or retirement, of thecompany's capital stock. At November .'10, 1958, the amount not; so restricted was approximately $9,500,000. shall not be exercisable until one year from the date granted or at any lime unless the last, .sales price (market, quotationi before the date of oxer-' rise is at least, 20'above the option price, the option price being the fair market value but not less than the hist stiles price of such stock on the New York Stock F.xehange tit; the date of granting. The shares subject to each option shall 'become purchasable to the extent of 25',' on the first and each successive-anniversary of .the date on which the option was granted, the installment rights beingcumulative. As of November 80, 1958,. options have not been granted for 2,000 shares of the capital stock authorized to be issued. At November 90, 1958, there were outstanding options entitling the holders thereof to purchase .`14,100 shares at $195575 per share, 5,250 shares at $2(i.!175 per share-and .`5,500 shares tit, $159.75 per share. 4. In preparing reports to the Securities and Kxchango Commission, the excess of the consideration paid to the Chicago Vitreous Corporation for net assets acquired over their recorded cost, which was. charged against, profits in 195(1, has been capital ized and is being depreciated over the estimated lives of the assets. The effect of.this treatment on . the financial statements as a whole is not material. .`{."Under a stockoption plan approved by the stock holders of the company on March 20, 1954, key employees of the company may be granted options ;"i:i'f.vto purchase an aggregate of 75,000 shares of capital stock of the company. Options granted under this plan shall be for terms not to exceed ten years and 5. A portion of the company's sales for the year ended November 30, 1958 is subject to renegotiation under the Renegotiation Act of 1951. Manage ment is of the opinion that adjustment, if any, will not have a material effect on the financial state ments. I'KAT. MARWICK. MITUIKU, A CO. Ccrlijicd Public Accniinhntls CINCINNATI \i, OHIO :> TlIK Mo aKI) OK DlKKCTORS . 'I'iik Ka g i.k -I'ic iik r Co mi'a n v : .. We have examined (lio consolidated balance sheet of The Kagle-Pieher Company and its domestic subsidiaries as of November 20, l!)f>8 and the related statement of protit, and loss and earned surplus for the year then ended. Our examination was made in accordance with generally accepted auditing stand ards, and accordingly included such tests of the accounting records and such other .auditing procedures as we considered necessary in the circumstances. In our opinion, with the explanation contained in note 4 to consolidated financial statements, the accompanying consolidated balance sheet and state ment of consolidated profit and loss and earned surplus present fairly the financial position of The Kagle-Pieher-Company and its domestic subsidiaries at November *itJ, lObB and the results of their operations for the year then ended,: in conformity with generally accepted accounting principles applied on a basis consistent,, in all material respects, wit h t hat, of the preceding, year. Pr a t , Ma r w ic k , Mit c iik .i.l At Co . Cincinnati, Ohio January 22, 1059 K 1 A' K-V 10A \l ST M A1 A It A FOR THE FISCAL YEARS 1954-1958 SOURCE OF FUNDS' Net Profit........................................... Depreciation, Depletion and Amortization.................................. $19,714,121 14,570,212 Increase in Reserves and Decrease in Investments............ Disposition of Fixed Assets....... 447,897 1,947,567 Other Sources..................................... 1,08!?, 161. APPLICATION OF FUNDS Dividends Paid . . . . ; . . . . $ 9.693.836 Capital Additions....... . 22,234,879 Patents & Patent Rights Acquired 2,01:',898 Increase in Working Capital. . . 2,111.517 Increase in Other Assets........... 853,442 Other........ .... :. . . ; . ..; . . ..... 425,386 $37,362,958 $37,362,958 30 195SFo r Tu b - Ye a r s ' En d e d No v e mb e r 1.957 1956 1955 1954 INCO.ME STATEMENT Net Sales. .. ............................................ ... . . . .. $98,132,667 $117,752,694 $116,407,000 $114,480,080 $83,233,880 Depreciation, .Depletion and Amorti/.ation . . ... . . . . . . . . . ...... , 3,296,731 3,216,858 3,096,237 2,969,269 1,990,578 Net Profit Before Income "faxes..... 3,990,094 7,531,706 11,481,794 10,204,062 ' 4,946,829 Net Profit . .... . . . . ..... ... .. . . . . | 2,090,094 4,266,706 5.906.430 5,004,062 2,446,829 Net Profit Per Share. .. . . . , ....... ' 2.08 4.25 5.88 5.06 ' 2.47 Dividend Per Share - .Calendar. Year 2 20 2.20 2.00 . 1 SO i 1.50 As 30a t No v e mb e r 1958 1957 1956 1955 1954 BALANCE SHEET | /. ; A'.. 1 . V Property, Plant & Equipment, net. . $24,008,928 Working Capital ' 27,920,267.................................................................. Long-Term Debt................................. ; 15,000,000 Net Worth.......................................... 40,716,257 Net Worth Per Share......................... 1 40.46 Shares Outstanding at Year-End . . 1,006,387 $23,549,875 ; $24,389,349 : 27,786,595 ; 27,298,811 ; i 15,000,000 15,000,000 j 40,858,362 38,899,244 1 40.74 38.71 ; 1,002,972 : 1,005,000 $24,470,614 ' $25,824,409 23,247,257 : 18,447,048 15,000,000 15,000,000 34,834,412 . 31,610,917 35.22 31.96 989,177 , 989,177 - 11 - CH KI\11 CAL DIVISION GHIGAGO VITRMOUS CORPORATION DIVISION |... ' . ' . : .c Y j MANUKACTURIXC PLANTS: cc aui..kk nn aa,,- Ka n s a s : mmii..ti..ssiutonKuoii,, iIil.luinn mo iis-;: ! .IOC1.IN, MISSOriil . j IMi INC 'I I*AIj IMiOIH'C'TS Zinc nml l<*:nl cJirniirals, piKini'tilfi anil nxiilrs; 1 I'lrrlrnnir ^rado germanium, silicon, gallium: i\*nliniuiii: sulphuric arid: | special purpose electric power supplies v : j ' '. . ' . M A N U F A CT U UIN C. PLANT: i ic k h o , ii.i.in o is . j \IMi I X( 'I ii\-\ IVR< )I )l.'( 'TS r (Yrumics: poreelain enamel frits for home I appliances.such as ranges, refri^(`ralors, wsuslicrs, driers, freezers, span* heaters, | water heaters, plumbing ware, and for lighting fixtures, architectural paneling, outdoor signs and oilier products re<piiring protective linishes: steel buildings (Lnslcrlite Corpora t ion'i: manufacture and erection of all-porcelain enamel service stations lor the pelrplciim industry ; ' .' - . KABRIOON I'RODDOTS DIVISION . .. INSULATION DIVISION MANUFACTURING l'LANTS-. u iv k h norm:, mu -u h l an ; imiLAiiKi.imiA. I'riTSUI'ltlUl, I'KNNSYLVANIA; MIS ANOKLKS, I'ALlKOItNlA I'liI N(II I'AI. -'PRODUCTS'--Automotive: door (rim foundation panels, coaled Mini" embossed trim boards, sound deadener parts, sunshade visors, dash insulator mats, glove boxes; plastics: "l.ainin-Arl" decorat ive laminated : ishrel's, iifliifle.l polyester Fiberglass or sisal parts, custom, impregnated papers, textiles and glass doth; packaging materials: plain anil printed waxed paper, -.printed.cellophane and polyethylene-. [ MANl'KACTUKlXd.-PLANTS: ruMiK. n k v a d a: coi.Ann, m-.v a d a; novint, j. NKW JKKSHV;..lOJ,I.IX,.MISSnUU! , . :- . - : ; PK1 X( `IIWL !*!{()I)L'( TPS ^Minuml wool- insirlnlious: <vim*nis, Murks, blankets, felts; pipe covering; aluminum storm windows and screens, storm and screen doors; dialomaceous earth .products; tillers, lilter-nids, aggregates, absorbents, catalyst supports ... : MINING AND SMMLTING DIVISION ' . : . V ' MINKS: t im-s t at i-: iij s t k iit (Mis s o u r i, Ok l ah o ma, Kan s as '; h al k n a , Il l in o is ; i.in u k n , smii.i.smimi, Wis c o n s in ; v a h h a l . mv '.x ic o . 7,1NC SM KLTKR : iik n k y k t t a, Ok l a h o ma : CONCK.NTUATi N( 1 MII,I,S: l-OMMiaiei:, OKLAHOMA; OALIONA, ILLINOIS; I.INUKN, SIIULLSULHiO, Wis c o n s in ; I'a h h a i., mk x ic o . RARK MKTALS PLANT AND RKSKAUCII KARURATURA : mia mi.Ok l a h o ma COXSOLIDATKD SUPPLY COMPANY: t u i:i;l -i:, Kan s as XORTIIKAST OKLAHOMA RAILROAD COMPANY: mia mi, Ok l a h o ma PRINCIPAL PRODUCTS... Slid) zinc, chat, cadmium, germanium, silicon, , zinc concentrates, lead concentrates v.= v:; OHIO RUB BUR COMPANY j DIVISION ' ..vY'v'-vBc'.v.'cv v vMv r'at y y y , y v y y y 5- 1 | | . . ", . M ANIJFACTUHI N( 1 PLANTS: w il l o l io iiiiv , omo; c o n n k a u t v il l i-:, CKNNSYI.VANIA; LONC HKAC1I, CAI.II'OUNIA; STUATI-'OUI), CIIXXHITICin' PRINCIPAL PRODUCTS Custom-made rubber parts for inanufarliirers in automobile, .agricultural implement, electrical appliance, toy and olher industries;molded, extruded, nibhur-lo-met.nl' and precision rubber parts: aulumoliile floor mats, miscellaneous units, weatherstrip,, tubing, vibration mountings, handle grips, semi-pneumatic tiies (wiieel goods, industrial, agri cultural'), defroster hose, tracks for (rack-laying vehicles (military and industrial), ami flexible vinyl parts; products are manufactured from natural, ..-synthetic, polyurethane, ami silicone rubbers