Ceradyne Sale: Ceradyne Inc. has sold its ceramic tooling business to the Carborundum Co., a Niagara Falls, N.Y., company, for more than $5 million cash.
Ceradyne Specialty Products manufactures ceramic kiln equipment used to make ceramic products. It is Ceradyne's smallest business, with 1988 sales of about $1.3 million.
Joel Moskowitz, Ceradyne's chairman, said the sale will enable the Costa Mesa company to pay off $5.4 million in bank loans. He said Ceradyne has also negotiated a new bank credit line with Fidelcor, a unit of First Fidelity Bancorp, which is based in Newark, N.J.
Ceradyne is a manufacturer of ceramic components for the electronic and aerospace industries.