Farrel to buy assets of bankrupt Skinner

ANSONIA, Conn. (Oct. 31)—Rubber machinery maker Farrel Corp. has entered into an agreement to purchase technology and other assets of Skinner Engine Co.'s polymer mixer business, Farrel said. The transaction is expected to close Nov. 15, the company said. Erie, Pa.-based Skinner, which specializes in mixing equipment, has been in bankruptcy since April 2001, and the bankruptcy court overseeing the company's operations has approved the sale to Farrel. Three of Farrel's global competitors also were active bidders for the Skinner assets, the firm said. The deal will bolster the Ansonia-based company's batch mixer technology, offerings and customer base, and "strengthen its industry leadership position," said Rolf K. Liebergesell, Farrel chairman, CEO and president.