Fluorocarbon Co., the Laguna Niguel-based manufacturer of plastic and rubber components, has purchased a Texas-based unit of the Oil States Industries division of LTV Energy Products.
The transaction, which closed Monday, was in cash, but the exact purchase price was not disclosed. However, Fluorocarbon Chairman Peter Churm said his company spent between $3 million and $4 million for Oil State's bearing pad business.
Bearing pads, made of rubber, are used as structural shock absorbers to insulate buildings and bridges against seismic movement and thermal expansion and contraction. Churm said Oil States' bearing pad business had just under $5 million in revenue last year.