Manchester Agrees to Be Bought by Calnetics
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Manchester Plastics Co., a Chatsworth maker of plastic sheets used in lighting fixtures and decorating, has agreed to be bought by Calnetics Corp. of Paramount for 917,500 shares of Calnetics stock, or about $3.7 million at current market prices.
Manchester is a closely held company with $8.5 million in annual sales. Calnetics and its Ny-Glass Plastics division makes molded plastic components used in such things as power supplies.
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