Aquaflex in Merger Talks with PCMC
DUNCANSVILLE, Pa.—It has been reported in the Altoona Mirror that F.L. Smithe Machine Co., a manufacturer of envelope machines and Aquaflex narrow-web printing presses, has signed a letter of intent to merge with Paper Converting Machine Company (PCMC), which is a division of Barry-Wehmiller Companies.
According to the article, Edgar Smithe Jr., board chairman of the family-owned business, said that discussions are in the due diligence stage. “Mainly, business hasn’t been too good for us … and they approached us asking if we’d be interested in talking. That’s where [it stands],” Smithe is quoted as saying, providing no timetable for the merger.