TS Industries Reports Won-Dor Acquisition

TS Industries Inc. said it acquired closely held Won-Dor Corp. for $39 million in cash and stock.

Huntington Beach-based TS said current management will remain at Salt Lake City-based Won-Dor, which makes folding partitions and sound-control, fire control and security control systems.

TS, which makes roofing insulation products and sheathing panels used in residential construction, estimates sales for the combined companies will be $84 million for the fiscal year ending Sept. 30, 1987.

For the fiscal year ended Sept. 30, 1986, TS said it anticipates sales of $40 million compared to sales of $22 million for the prior fiscal year. For the nine months ended June 30, TS reported net income of $1 million on sales of $21 million compared to net income of $498,000 on sales $14.8 million for the same period a year earlier.

A manufacturing plant that TS recently completed in Massachusetts and another it acquired in Dallas will come on-line during the company’s fiscal fourth quarter, the company said.

In over-the-counter trading Wednesday, TS closed at $24.675, up 50 cents.