Newspaper article THE JOURNAL RECORD

Barton Industries Acquires Sentinel Manufacturing Co

Newspaper article THE JOURNAL RECORD

Barton Industries Acquires Sentinel Manufacturing Co

Article excerpt

Broken Arrow was announced Wednesday by Barton Industries Inc. of Shawnee.

In addition, Barton reported a net loss of $388,306, or 7 cents per share for the third fiscal quarter ended June 30. That compared to a net loss of $643,424, or 18 cents per share, for the same quarter in 1987.

Revenues rose 192 percent to $2.1 million from $732,751 for the third quarter of 1987.

The Sentinel purchase was the second major acquisition by Barton this month, which earlier announced the purchase of Burton Valve Corp. of Kentwood, Mich.

Sentinel, founded in 1940, makes pressure control items primarily used by oil and gas producers. It recorded sales of about $600,000 for the first nine months of 1987, said Victor Joyce, vice president and chief financial officer.

Manufacturing of the Sentinel products will continue in Broken Arrow.

As business increases at Sentinel, Barton expects to hire additional employees, said Joyce. The company currently has about 20 employees.

Barton currently produces the Burton products at its facilities in Shawnee.

Burton manufactured ball valves and gate valves for the gas distribution industry and these products are now being marketed as the Barton Series "B" product line.

Barton manufactures valves for the oil and gas industry, with 80 percent of the production sold to pipeline companies.

Barton currently has about about 110 employees, Joyce said.

The acquisitions will significantly broaden Barton's product lines, and improve its capabilities to serve its customers more efficiently particularly east of the Mississippi, said Earl Johnson, president and chief executive officer of Barton.

Third quarter operating costs were lowered from better and increased utilization of manufacturing facilities with higher sales volumes, Joyce said. …

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