Publication: Glass Industry
New York, NY, United States
TO BUY WHITALL TATUM COMPANY
The Armstrong Cork Co., Lancaster, Pa, has entered into an agreement to purchase the Whitall Tatum Co., Millville, N. J., according to H. W. Prentis, Jr., president of Armstrong.
Whitall Tatum Co. is one of the oldest glass container manufacturers in the country, having celebrated a year ago its hundreth anniversary. It manufactures an extensive line of glass containers, and in addition a line of specialties such as graduates, ampoules, hospital goods, insulators, etc. The Closure Division of the Armstrong Cork Co. has become an important factor in the manufacture of metal, plastic and cork closures. The consolidation, therefore, is quite in line with the trend in the glass container industry, begun some years ago, to offer packers a complete packaging service, whereby the customer can procure closure and container from the same source of supply.
Actual acquisition of the property is expected to be consummated June 20, following a meeting of Armstrong stockholders called for June 20 to amend the articles of incorporation. The amendment will permit the issuance of 60,000 new shares of $100 par 4 per cent cumulative convertible preferred, and an increase of 100,000 shares in the authorized common stock. It is stated that 34,500 shares of the proposed new preferred will be used for the purchase of Whitall Ttaum Co.