FLAIR CORPORATION ACQUIRES DELTECH ENGINEERING, INC.
ST. LOUIS, May 4 /PRNewswire/ -- Sam Fox, chairman and chief executive officer, announced today that one of Harbour Group's companies, Flair Corporation, has acquired Deltech Engineering, Inc. Terms of the transaction were not disclosed. Deltech Engineering, headquartered in New Castle, Del., is a leading producer of compressed air and gas filtering and dehydrating equipment and breathing air purifiers. The company employs approximately 225 people in its facilities in New Castle, Holland and England. Annual revenues are approximately $30 million. Deltech designs and manufactures products under the DEL-MONOX, COMPU-PURGE, HYDROGARD, PYRAMID 2000 AND HYDROBLOC registered trademarks. Flair established its presence in the compressed air treatment and solvent recycling industries in October, 1992, with the acquisition of Pneumatic Products Corporation. "With the acquisition of Deltech, Flair becomes the world leader in the highly specialized compressed air treatment industry," stated Fox. Deltech's products, technology and distribution networks are highly complementary to Flair's existing operations. Flair will offer the market an "unparalleled array of products, services and engineering support to meet the unique needs of compressed air and gas users," according to Fox. With sales of $70 million, Flair will become the industry's largest producer. Flair is headquartered in Ocala, Fla., and is a major manufacturer of compressed air dryers and filters. The company employs 260 people at its facilities in Ocala, Fla.; England and Germany. In addition to compressed air products, Flair, under the Siva product line, manufactures equipment for the recycling and recovery of solvents. Siva's growth continues to accelerate as a result of increased environmental awareness regarding the handling, disposal and recovery of hazardous materials. Harbour Group is a privately owned corporation based in St. Louis, Mo. In addition to Flair Corporation, the Harbour Group family of companies encompass 10 businesses manufacturing carbide and high speed cutting tools, pumps, elastomer and teflon sealing products, plastic injected molded and structural foam molded products, resistance welding machines, metal stamping and specialty machinery. Harbour Group companies have annual revenues in excess of $500 million and employ over 5,000 people in more than 30 plants worldwide. -0- 5/4/93 /CONTACT: Alfred Fleishman of Harbour Group, 314-982-1700/
CO: Flair Corporation; Deltech Engineering, Inc. ST: Florida, Delaware IN: SU: TNM
WB -- NY090 -- 4598 05/04/93 18:15 EDT
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|Date:||May 4, 1993|
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