Conrac Sells Machine Tool Unit to L.A. Firm

STAMFORD, Conn. — 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.