Lamson & Sessions to Obtain Ameriduct for $54 Million

NEW YORK, Dec. 11 -- Citing a desire to expand its distribution of fiber optic conduit systems to the telecommunications industry, Lamson & Sessions Co. has decided to purchase Ameriduct Worldwide Inc., a Fort Myers, Fla.-based producer of polyethylene products. Lamson & Sessions, a Cleveland-based maker of thermoplastic products for the electrical, telecommunications and consumer markets, has agreed to pay $54 million cash as well as take on about $11 million of Ameriduct Worldwide's debt.
The acquisition will add to Lamson & Sessions' diluted earnings per share in 2001, the company said.