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Pangborn acquired by Conn. company

June 07, 2006|by ANDREW SCHOTZ

Pangborn Corp. of Hagerstown, which makes products for the metal and metalworking industries, has been acquired by a Connecticut holding company, Pangborn announced Monday.

Atlas Holdings LLC of Greenwich, Conn. - through its capital equipment division - acquired Pangborn.

In a news release faxed Tuesday, Pangborn described Atlas Holdings as "a private holding company with interests in the wood products, specialty steel, paper and packaging, industrial services and capital equipment sectors."

Tom Wojcik, Pangborn's vice president of sales and marketing, who was listed as a contact for the company, was not in the office Tuesday afternoon. No one else from Pangborn was available to comment.

A message left Tuesday afternoon for Atlas Holdings LLC was not returned.

The Hagerstown-Washington County Economic Development Commission's 2006 Business & Industry Directory lists Pangborn's parent company as Kulen Capital Corp. of New York.

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A listing for Kulen Capital Corp. could not be found through an online search.

Pangborn, which began in 1904, is listed in the EDC directory as having 60 employees, all of them nonunion and management positions.

A 2000 Herald-Mail feature about company founder Thomas W. Pangborn reported that Pangborn Corp.'s employment peaked in the 1960s at more than 1,000 people.

The number of employees was listed at 350 in the 1998 directory, of which 201 were members of United Auto Workers Local 842.

Pangborn's news release says it "designs, manufactures, markets and services shot blast machines, dust collectors and related products for the primary metal and metalworking industries."

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