Calnetics Pays $4.4 Million for Agricultural Products
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Calnetics Corp., the Chatsworth manufacturer of molded plastic components for industrial uses, said last week that it had acquired all of the stock of Ontario-based Agricultural Products Inc.
Calnetics paid about $4.4 million in cash and notes for Agricultural Products, formerly a privately held company that manufactures plastic water-handling products, including tubing, filters and drip-system accessories. The company has plants in Ontario and Winter Haven, Fla.
Lon Schultz, founder of Agricultural Products, has agreed to continue serving as president and director of the company, Calnetics said. Calnetics had total sales of $16.6 million for its latest fiscal year. Agricultural Products had sales of about $10 million in 1993.
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