Summa Sells Morehouse-Cowles Subsidiary

Summa Industries said it has signed a letter of intent to sell one of its subsidiaries, Morehouse-Cowles Inc., a manufacturer of mixing and milling equipment for makers of paint, ink and other products.

The buyer, a privately held company, has said it intends to keep Morehouse-Cowles and its 90 employees in Fullerton, said Jim Swartout, chief executive of Summa. Swartout would not identify the buyer. Terms of the deal, which could close within 60 days, were not disclosed.

Summa has other subsidiaries that manufacture a variety of products, including firefighting equipment, and employ 80 workers.