Crane Co. expanded its fiberglass-reinforced plastics business by acquiring part of Sequentia Inc. of Strongsville, Ohio.
Crane bought Sequentia's transportation products business for undisclosed terms March 14. The business makes panels for truck bodies, trailers and containers for original equipment makers and the aftermarket, the Stamford, Conn.-based firm said in a news release.
Crane subsidiary Kemlite Co. Inc. of Joliet, Ill., will integrate the purchased assets into its operations. Kemlite makes FRP panels for a variety of industries.
Norman Goodyear, Sequentia's senior vice president, said the deal included assets at his firm's Grandview, Mo., plant, near St. Louis. Sequentia planned to close the plant this year but the sale ``was a better alternative.''
He said the firm will move two FRP production lines not included in the deal from Grandview to its Grand Junction, Tenn., facility. The lines make FRP building materials, Sequentia's main business.
Sales for transportation products, which were a small part of Sequentia's business, had been falling, Goodyear said. Sequentia planned to move Grandview's equipment to Grand Junction early this year and expand floor space there. Now it will not need to do that, he said. A Houston plant, which mainly fabricates metal construction products, was not affected by the sale.
Sequentia will make transportation products for Kemlite under a short-term contract, then Kemlite will transfer the assets and production to its own plants.
Goodyear would not disclose his firm's sales. Kenner Group, a New York investment firm, owns Sequentia.
Crane makes a range of industrial products, including doors, windows and millwork.