The ultimate parent of custom injection molder Wescon Plastics is going private.
Wescon Plastics is a division of Wescon Products Co., which in turn is part of Latshaw Enterprises Inc. John Latshaw - the chairman, managing director, chief executive officer and majority shareholder of Latshaw Enterprises - is leading the effort to buy Witchita-based Latshaw Enterprises with a group of affiliated investors. They have formed LatCo. Inc. to make the purchase.
Wescon Plastics, also of Witchita, has injection presses with clamping forces of 5-550 tons and performs tooling, engineering and prototyping. It specializes in molding engineering resins. Wescon Products Co. also makes control assemblies and screw machine components in Witchita.
The purchase of publicly traded Latshaw Enterprises will not affect Wescon Plastics operations, according to a report in the Witchita Business Journal. The report said Latshaw Enterprises is a thinly traded, over-the-counter stock. Officials were not available to comment on the purchase.
Latshaw Enterprises reported profit of $395,000 for its first quarter, ended Feb. 2, down 52 percent from a year earlier. Sales slipped 23 percent to $12.1 million.