MILL MASTERS ACQUIRES MCKENICA DIVISION OF INSILCO HOLDING CO.
July 14, 1999 – Mill Masters, Inc (based in Jackson, TN) today announces that it has acquired the assets and intellectual property of McKenica, a division of Insilco Holding Company. McKenica located in Buffalo, New York, had been a leading manufacturer of thin wall high frequency tube mills, tooling, and components for over 50 years. This capital equipment is used for the manufacturing of thin wall tubing used in various applications such as automotive/truck heat exchangers, fiber optic cabling, telecommunications cable, and residential/commercial heat exchangers.
Company President, Bill Panthofer, said, " The McKenica acquisition allows Mill Masters to accelerate our long range strategic plans to grow our business over a significantly shorter period of time. With the additional products McKenica brings to the table, we see numerous opportunities for us in new and current markets. These products could more then double our current revenues."
Mill Masters plans to hire from 20 to 30 additional machinist and toolmakers along with support personnel over the next several months.
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