Davis-Standard is continuing its charge down acquisition avenue, buying the Hartig line of blow molding and extrusion systems and FHB bottle manufacturing lines from Battenfeld Blowmold-ing Machines Inc. Battenfeld of Boonton, N.J., acquired the line in 1992. Davis-Standard will reinstate the Hartig trade name.
``Battenfeld discontinued the Hartig name, but the products are alive and we will keep the Hartig name,'' said Frank Kennedy, vice president of Davis-Standard, based in Pawcatuck, Conn.
``The blow molded products blended well with our offerings and gave us larger end products,'' Kennedy said. ``The extrusion increased our market share in a market we're already in and the bottles provide us with another market.''
Davis-Standard's blow molding machinery includes Sterling industrial systems.
``Hartig's line complements our existing lines,'' said spokeswoman Diane Beaulieu.
While Davis-Standard obtains Battenfeld's U.S. manufacturing equipment, Battenfeld-Fischer will continue to make the blow molding equipment in Germany.
This is the eighth acquisition by Davis-Standard since 1991. Terms were not disclosed.
Kennedy said the company will continue to look at opportunities and consider future acquisitions based on company objectives.
Davis-Standard plans to consolidate the Hartig and FHB lines into its existing plant in Edison, N.J.
Davis-Standard's parent firm, Crompton & Knowles Corp. in Stamford, Conn., reported April 9 that profit dropped about 28 percent in the first quarter, and sales declined 2 percent.
Sales were $164.8 million for the period ended March 30, down from $168.2 million for the same period a year ago, and profit dropped to $9.5 million from $13.2 million in 1995.
The Specialty Process Equip-ment & Controls segment, which includes Davis-Standard, reported a quarterly profit of $7.1 million, down 29 percent from $10 million a year ago, and sales of $68.7 percent, up 4.6 percent from $65.7 million a year ago.
The company attributed the sales growth in the segment to the January acquisition of ER-WE-PA GmbH of Erkrath, Germany. It blamed the profit decline on lower margins in Europe and reduced sales volume in the United States.