December 21, 1995
M.A. Hanna Co. of Cleveland said Wednesday that it has signed a definitive agreement to buy Cimco Inc., a Costa Mesa maker of industrial and medical plastics, for about $33 million. Cimco and M.A. Hanna had struck a tentative agreement in November. Hanna, an international specialty chemicals company, will pay Cimco shareholders $10.50 a share, plus options and other securities. Hanna also has agreed to sell Cimco's fast-growing plastics molding business, Compounding Technology Inc.
September 4, 1995
Terri Vaccher has been named regional manager of Merit Property Management in Mission Viejo. Vaccher, who has been with the company five years, was previously district manager. * J. Terry Bagwell has been named president and chief operating officer of Medical Molding Corp. of America, a wholly owned respiratory medical products division of Cimco Inc. in Costa Mesa. Bagwell joined the company in 1967 and has held numerous managerial positions, most recently as vice president of the division.
January 26, 1996 |
Cleveland-based M.A. Hanna Co. on Thursday picked up 95% of the shares of Cimco Inc. for $32.55 million, completing its tender offer for the plastics maker. Hanna, an international specialty chemicals company, also has agreed to assume about $18 million in Cimco debts, making the deal worth $50 million, said Russell T. Gilbert, Cimco's founder and president. Gilbert said Hanna will formally close the deal next week when it pays Cimco stockholders $10.50 a share and transfers control.
June 4, 1988 |
Cimco Inc., a Costa Mesa manufacturer of disposable medical products, has decided to pin its fortunes on a more modern thermometer. Russell T. Gilbert, Cimco's president and chief executive officer, said that the disposable covers it produces were designed to fit thermometers that were state of the art 15 years ago. But over the years, they became outmoded and lost their market share.