Acquisition by Hydrometals
In 1968 Lawton Shurtleff agreed to sell Thorsen Manufacturing to Hydrometals, Inc., an industrial conglomerate. The intended acquisition was noted in the August 15, 1968 issue of The New York Times. The transaction was structured as a stock swap and appears to have closed in early 1969, based on the information in an SEC News Digest from April 14, 1969, which notes that Hydrometals had filed to register securities for a secondary offering. Thorsen continued in operation as a division of Hydrometals, with Shurtleff remaining as the CEO until 1977.
Giller Tool
Hydrometals had previously acquired the Giller Tool Corporation of Dallas in 1963, with the acquisition noted in the November 15, 1963 issue of The New York Times. Giller appears to have operated primarily as a defense contractor, and the February 19, 1966 issue of The New York Times notes that the Giller division of Hydrometals had received $1.9 million in new defense contracts. After the 1969 acquisition of Thorsen, Hydrometals reorganized its subsidiaries to make Giller Tool an operating division of Thorsen Manufacturing.
It's not known whether Giller Tool had its own manufacturing facilities or made use of contract manufacturers; however, as a division of Thorsen, Giller would have had access to Thorsen's manufacturing equipment. This helps resolve a long-running mystery concerning the close resemblance of many Giller-marked tools with the corresponding Thorsen model.
, I mentioned just buying it from another member and asking if anyone knew what the missing door looks like.
