Newbury Industries soon may become part of Van Dorn Demag Corp. W. Gerry Pryor, president and chief executive officer of Van Dorn, confirmed Feb. 14 that his company is negotiating with Chicago-based Heico Acquisitions to purchase Newbury of Newbury, Ohio.
Van Dorn Demag of Strongsville, Ohio, has been in discussions with Heico to purchase the maker of vertical insert injection molding machines since Septem-ber.
Pryor said no deal has been struck between the companies, and added that he has not set a time limit on negotiations.
``If and when we make a deal, we will announce it,'' Pryor said.
Executives of Newbury Indus-tries could not be reached for comment.
Brian Bishop, general manager of injection molding at HPM Corp. in Mount Gilead, Ohio, said in a Feb. 14 interview at Plastics Fair Dallas that he could understand the motivation behind such a deal.
``It really makes sense for Van Dorn to pick up a vertical-press manufacturer.'' Bishop noted. ``We don't look at Newbury as a tremendous competitor in horizontal presses, but they certainly are known in the vertical market.''
The deal could help make Van Dorn Demag's product portfolio more competitive with archrival Cincinnati Milacron Inc. Autojectors Inc. of Albion, Ind., makes vertical presses for Milacron under Mila-cron's name since 1994.
Meanwhile, Autojectors also makes and sells vertical insert presses under its own name, and most of those machines are sold by distributors who primarily handle Van Dorn machinery.
Officials of Autojectors and Milacron declined to comment.
Newbury is one of the oldest makers of injection molding machinery in North America. It produces:
A line of six toggle-clamp injection molding machines, ranging in size from 35-300 tons, with injection units ranging in capacity from 2-31 ounces.
A line of six vertical injection molding machines that can be equipped with shuttle or rotary tables, and have C-frame or four tie-bar clamping systems. The company's vertical machines have clamping forces of 30-200 tons, and have injection capacity up to 21 ounces.
And a line of eight toggle-clamp, high-speed, horizontal injection molding machines with clamping forces of 350-700 tons, and injection capacities of 40.3-115.1 ounces.
Glenn H. Frohring sold Newbury to Heico Acquisitions in June 1993. Frohring and his family formed Newbury Industries in 1957 through the consolidation of three firms: R.L. Frohring Machine Co. owned by Glenn Frohring's brother; Glenn Machine & Service Corp., owned by Glenn Frohring; and a firm owned by Glenn Frohring's father that made Mini-Jector injection presses.
Senior reporter Bill Bregar contributed to this report.