SILVER ENGINEERINGWOODCLIFF LAKE, N.J. - Ingersoll-Rand Co. has acquired Silver Engineering Works Inc., which will become part of its Industrial Process Machinery Group. No terms were disclosed.
Silver Engineering has supplied machinery for a variety of applications in the food processing, mining, oil and gas, marine, waste water treatment and pulp and paper industries.
It makes centrifuges, conveyors, crystallizers and diffusers, heat exchangers, marine winches and other products.
Ingersoll-Rand said it will retain and operate Silver's 120,000-square-foot plant in Aurora, Colo.
Ingersoll-Rand manufactures industrial machinery, construction equipment, mining machinery, bearings, door hardware and security systems.
3M CORP. ACQUIRES
LENOX HILL COMPANIES
ST. PAUL, Minn. - 3M Corp. has acquired Lenox Hill Brace Shop Inc. and Lenox Hill Orthotics Inc., makers of custom knee braces. No terms were disclosed.
3M said 90 employees at Lenox Hill's manufacturing plant in Long Island City, N.Y., will remain there and work for 3M.
Other Lenox Hill workers in Japan and the United Kingdom will be retained by 3M when Lenox Hill joins 3M's Orthopedic Products division.
Lenox Hill gained acclaim in 1968 when the company developed the first custom knee brace for Joe Namath, who led the New York Jets to a Super Bowl win in 1969.
KEYSTONE FOODS MAPS
PLANS FOR ALA. FACILITY
GADSDEN, Ala. - Keystone Foods Corp. will buy a USDA-approved building and the adjoining 26 acres in the Gadsden Industrial Complex.
Keystone, a major distributor of food products to McDonald's Inc. restaurants, will spend $9.8 million to buy, expand and equip its Gadsden plant for poultry processing.
The Bryn Mawr, Pa.-based company said it will employ about 100 people initially at the plant when it opens this April.
Keystone's move to Gadsen comes on the heels of a major $7 million expansion under way at Tyson Foods Inc.'s plant at Gadsden.
Both Keystone and Tyson are major players in the booming poultry products industry, which has retail sales totaling $16 billion annually.
HOLLY FARMS MEETING
OMAHA, Neb. - Conagra Inc. said a special shareholder meeting to vote on issuing Conagra stock for the merger of Holly Farms Corp. and Conagra will be held in February or early March.
The meeting originally was set to be held Dec. 23.
HIKES IN CRUDE GOODS
WILL HIT CONSUMERS
WASHINGTON - The head of the National Association of Wholesaler- Distributors warned that price increases of goods at the crude processing stage will be reflected in the consumer market in the months ahead.
"I see good news, but also disturbing news in the latest Producer Price Index figures," said Dirk Van Dongen, NAW's president, of December's index figures from the Bureau of Labor Statistics.
On the upside is that food and energy prices held stable last month and aren't responsible for the overall increase in finished goods prices, Mr. Van Dongen said.
But on the downside are the substantial food, energy and other increases for goods at the crude stage of processing, he said.
"I imagine there are some furrowed brows at the Fed regarding these numbers," Mr. Van Dongen said. "They point to a need to carefully monitor demand in the economy."