Calnetics Corp. to Merge With Summa Subsidiary

Calnetics Corp., a Chatsworth plastic components company, said it has reached an agreement with Summa Industries of Torrance to merge with a Summa subsidiary for a combination of cash, debentures and shares. Shareholders of both companies will meet in June to approve the deal.

For the six months that ended Dec. 31, Calnetics’ profit was $763,000 on sales of $17 million. For the six months that ended Feb. 28, Summa’s profit was $842,000 on sales of $16.6 million.