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Article: Summa Acquires Broadview.
- Article from:
- PR Newswire
- Article date:
- September 2, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TORRANCE, Calif., Sept. 2 /PRNewswire/ -- Summa Industries (Nasdaq: SUMX) has acquired the assets of privately held Broadview Injection Molding Co., Inc. of Broadview, Illinois, a manufacturer of precision thermoplastic and thermoset parts for wound electronic components such as transformers, relays and coils, known in the industry as "bobbins."
Summa paid $1.6 million in cash for Broadview and will issue an unsecured promissory note to Broadview in an amount equal to the sum of $100,000 plus Broadview's working capital at closing, and will assume certain related liabilities.
Broadview, with sales of about $2.5 million, manufactures specialty electronic ...