Extruder and mixer manufacturer Farrel Corp., which reported a big drop in profit for 1995 and is laying off some employees, has named a former Goodyear executive as president. Hal Wilson, former vice president of Goodyear Tire & Rubber Co.'s Asia region, will become president and chief operating officer of Farrel effective April 1. Wilson's appointment was an-nounced by Rolf Liebergesell, Farrel's chairman and chief executive officer. Liebergesell also was Farrel president.
Wilson worked at Goodyear for 30 years before retiring in 1995. Before his post leading the Asia region, he was vice president of North American Commercial Operations.
Through the first nine months of 1995, Farrel had lost $1.2 million. By year's end on Dec. 31, the company reported a profit for 1995 of $902,000 - a 64 percent decline from 1994 profit of $2.51 million.
For the year, Farrel reported a 6 percent increase in sales, to $80.1 million. Sales in 1994 were $75.5 million.
Farrel finished the year strong, with $34.9 million in fourth quarter sales, a 37.4 percent increase over year-ago fourth quarter sales of $25.4 million. Net profit for the fourth quarter was $2.12 million, up 2.4 percent from $2.07 million in the fourth quarter of 1994.
Farrel, based in Ansonia, Conn., issued an announcement reporting its financial performance together with Wilson's appointment on March 8.
A company spokesman said Farrel is working to overcome slow market conditions in the cyclical industrial machinery industry.
Farrel makes compounding extruders and mixers and mills for rubber and plastics processors. In the rubber industry, Farrel is well-known for its Banbury mixer.
Farrel stock is traded on the Nasdaq National Market System.
In a previously reported layoff, the company expects by the end of March to let go 44 people in Derby, Conn., about half that facility's work force.
The Derby plant makes components and does metalworking for Farrel machines.
Farrel officials said some of the work done in Derby is being consolidated to its plant in Rochdale, England.