Summa Completes Sale

Summa Industries said Monday that it has completed the sale of its Morehouse-Cowles Inc. subsidiary to a private investment group for $750,000 in cash and $1.77 million in notes.

Summa, which still owns industrial firefighting equipment maker GST Industries in Santa Ana, said it will move its corporate office and three top employees closer to president James Swartwout’s Torrance-area residence.

But Morehouse-Cowles, whose 90 employees make, install and service milling and mixing equipment for the chemical processing industry, will continue operating at its Fullerton facility, which is owned by Summa, under a new 10-year lease.