TORONTO — Derlan Industries Ltd. said it has agreed to buy Energy Container Corp., a closely held Santa Ana company that makes fuel tanks for aircraft. No purchase price was disclosed.
Energy Container employs 105 people and has annual sales of about $16 million. The company also makes valves for the petrochemical industry.
In connection with the acquisition, "Derlan will consolidate three of its California operations, together with Energy Container, into one large plant," Derlan said.
The other three plants are located within a roughly 20-mile radius of the Energy Container plant, said Michael Forsayeth, vice president and chief financial officer of Toronto-based Derlan.
The closing of the three plants will result in a small charge, "but we don't expect it's going to cost a ton of money," Forsayeth said. He declined to be more specific.