TS Industries Inc., a Huntington Beach foam...

TS Industries Inc., a Huntington Beach foam insulation maker, has agreed to buy Paneltherm, a small Dallas-based maker of insulation products for telephones. The deal was valued at $970,000.

TS Industries said the purchase is expected to add $5 million to $6 million to the company’s revenues. In the year ended Sept. 30, 1985, TS Industries had revenues of $22 million. The purchase is expected to be completed before the end of the month.