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Garlock to acquire rubber business

Publisher
Elsevier Science
Year
1997
Tongue
English
Weight
94 KB
Volume
1997
Category
Article
ISSN
1350-4789

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โœฆ Synopsis

Static sealing

Wynn's Prc(:ision supplier of sealin~ producls for automobiles and ()(her equipinent, reported a 23% increase in rewm~es m (he seeond quarIer of 1997 compared (<) life >ec()nd quarter of 1996. The growlh was mainly due lo Uwreased sales of Precision's ini:ovalive conlposilc gasket product line and lhe addilional sales ::Ilributablc lo {he Seplember 1996 aequisilion el ;tl~ ,ullomotive sealin~ business. Prceisiol:s opcn:litl~2 pl-

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Wynn's will finance the purchase with working capital and debt. The closing of the deal, subject to the customary conditions, is expected in mid-December. Goshen is a privately held maker of O-rings, tetraseals and gaskets. It generated annual revenues of approximately US$172.6 million for its fisc