Crane Buys Noble Composites

Crane(CR Quote - Cramer on CR - Stock Picks), a diversified manufacturer of highly engineered industrial products, said Wednesday it would buy Noble Composites for $72 million in cash.

The Goshen, Ind.- based Noble Composites specializes in the manufacture and sale of composite panels used by motorhome and travel trailer manufacturers. Noble had sales of about $45 million in the past twelve months.

The transaction will close after passing the antitrust scrutiny.

"Noble Composites is complementary to our fiberglass reinforced plastics business, which has served recreational vehicle (RV) manufacturers for years," the Stamford, Conn.-based Crane said.

Crane expects the deal to be neutral to its earnings in 2006.