Conrac Sells Machine Tool Unit to L.A. Firm
Conrac Corp. said it sold its machine tool division to the Phi division of Tulip Corp. of Los Angeles.
Terms weren’t disclosed.
The division, located in Westminster, produces a proprietary line of automatic pipe and tube benders, structural beam welders and pipe-tube end-finishing equipment.
Donald H. Putnam, Conrac chairman, said the sale was part of the company’s continuing program of concentrating its resources in the communications and computer-based information display industries.