Haskel International Applies to Sell Stock

Haskel International Inc., a Burbank-based maker of hydraulic pumps and systems, said it has filed an application with the Securities and Exchange Commission for a proposed initial public offering of 750,000 shares of common stock.

The price of the offered shares is expected to be between $10 and $12 per share; if all the shares are sold, the total proceeds would be between $7.5 million and $9 million. After the offering, there will be a total of 4.6 million common shares outstanding. An underwriting group managed by Baraban Securities Inc. will offer the shares.

Haskel said proceeds of the offering will be used for the improvement and expansion of pump and systems product lines, the expansion of distribution networks, and the improvement and automation of communication and manufacturing systems.

Haskel International makes pumps and systems for industrial, commercial and aerospace applications, and is an international distributor of electronic components.