Business Services Industry
Mark IV Industries Sells Unit to Paoli, Pa.-Based Motor Components Maker.
Knight Ridder/Tribune Business News, May, 1999 by Williams, Fred O.
Knight Ridder/Tribune Business News
May 4 -- Mark IV Industries Inc. has sold a division that makes pressure measurement devices for $23 million as part of a continuing move to dispose of non-core businesses, the Amherst-based manufacturer said Monday.
Mark IV sold its Gulton-Statham Division based in Costa Mesa, Calif., with $25 million in annual sales and 250 employees, to Ametek Inc., a Paoli, Pa.-based maker of electric motor components, the company said.
Gulton-Statham's pressure measurement transducers are used by aviation, aerospace and corrosive process markets. Applications included door-closing sensors for jet aircraft and monitoring hydraulic pressure in rockets.
Mark IV will use the proceeds of the cash sale to pay down...
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