NEWSMAKERS
By Staff -- Modern Materials Handling, 4/1/1998
P&H Material Handling, the crane and hoist division of Harnischfeger Industries, Milwaukee, Wis., has been sold to a New York City financial investment firm. P&H will continue to make and assemble its full line of cranes, hoists, winches, and repair parts, says Michael S. Erwin, P&H president."P&H will continue its global growth as a strategic partner to an ever broader industrial base, providing greater uptime and enhanced productivity," Erwin continues.
The new company will be called Morris Material Handling, after the name of its U.K. subsidiary. It will continue to market cranes and hoists under the P&H trademark for the foreseeable future, however.
Baldor Electric Company of Arkansas has acquired Northern Magnetics, Inc. (NORMAG) of California. NORMAG had sales in 1997 of about $10 million, and employed about 70 people. Baldor had annual sales of $558 million in 1997.
Baldor chairman Roland S. Boreham, Jr. says that "NORMAG is a leader in linear motors, and has a broad product line. This is a perfect fit with our motors and controls." Adds NORMAG chairman Walter Hinds, "The industrial drives and motion control products that are part of the Baldor product line today match up well with our linear motors. We can now offer customers a motor and drive combination."
Zotefoams plc, a U.K.-based manufacturer of crosslinked foams, plans to invest $25 million in a new U.S. plant.
The company expects the state-of-the-art facility to be operational in 2000. Randall Redd, president of the company's U.S. subsidiary, says the plant "will produce our complete range of products."
Included are brands of crosslinked polyethylene foams, copolymer foams, and new polypropylene foams widely used in packaging for a variety of protective, conductive, and static dissipative applications.
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