No Sale of Summa Unit
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FULLERTON — Summa Industries Inc., a holding company for makers of food handling and processing equipment, said Tuesday that negotiations to sell one of its subsidiaries to a private unidentified buyer have broken down. The company has resumed talks with other potential buyers of its Morehouse-Cowles Inc. unit, which makes equipment for the chemical processing industry.
Summa’s president, James R. Swartwout, and that Morehouse hasn’t been generating enough profit and doesn’t fit into Summa’s long-range focus on the food industry.
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