WAYNE, N.J. (March 6)—Passaic Rubber Co. spent more than $250,000 for a new, computer-controlled lathe. The grinder/groover measures 40 inches in diameter and 240 inches long and will allow Passaic to pursue business that requires tight tolerances, President J.D. Mathey said. The company also is expecting delivery of an electric vulcanizer by mid-March. That machine is 60 inches in diameter and 330 inches long.