Crompton & Knowles Unit Acquires German Extrusion Company.STAMFORD, Conn.--(BUSINESS WIRE)--July 1, 1999-- Crompton & Knowles Corporation (NYSE NYSE See: New York Stock Exchange :CNK CNK Crash Nitro Kart (Playstation 2 video game) CNK Coated Natural Kraft (MeadWestvaco paperboard) CNK Compute Node Kernel CNK Cryptonet Key ) announced today that its Davis-Standard subsidiary has acquired Kunststoff- und Kabelmaschinenbau (KU-KA-MA), an extrusion systems manufacturer located in Haan (near Dusseldorf), Germany. The value of the cash transaction was not disclosed. The acquisition includes the business, but does not include the company's manufacturing facility. KU-KA-MA's production and personnel will be moved to the Davis-Standard location in Erkrath (near Dusseldorf), Germany. Davis-Standard will continue to manufacture and supply the complete line of KU-KA-MA's extrusion products. The acquisition expands Davis-Standard's growing presence in the European extrusion industry and gives the company access to the established customer base in Western Europe Western Europe The countries of western Europe, especially those that are allied with the United States and Canada in the North Atlantic Treaty Organization (established 1949 and usually known as NATO). and the developing Eastern European countries. Crompton & Knowles is a global producer and marketer of specialty chemicals A Specialty chemical is a chemical produced for a specialized use. They are produced in lower volume than bulk chemicals, of which petrochemicals, made from oil feedstocks, are the most common. However, both are produced in a chemical plant. , polymers and polymer processing equipment. The company's 1998 sales were $1.8 billion. Davis-Standard is a leading global producer of plastics extrusion Plastics extrusion is a high volume manufacturing process in which raw plastic material is melted and formed into a continuous profile. Extrusion produces items such as pipe/tubing, weather stripping, window frames, plastic sheeting, adhesive tape and wire insulation. systems. KU-KA-MA has annual sales of approximately $10 million U.S. |
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