Masoneilan International, Inc.
List of Deals
William B. Mason founded a valve and process control company in 1882. The company was based in Norwood, Massachusetts, but was incorporated in Delaware as a wholly owned subsidiary of Worthington Corporation in 1968. From its origins through the twentieth century, Masoneilan, Mason's company, remained in the business of manufacturing valves, pressure control devices, and automatic process control equipment. Most of these valves were used in the petrochemical and energy industries.
Mason patented a steam-reducing valve in the 1880s. Masoneilan developed new techniques for sizing valves in the 1940s, and in 1968 introduced the Camflex valve, a "universal" valve with standardized parts for multiple valve sizes and uses. The Camflex valve, introduced in the United States in 1970, pushed net sales upward from a 1966 level of $33.9 million to a 1970 level of $36.1 million. In the 1968 acquisition of Masoneilan, Studebaker-Worthington gained effective control of the privately held shares and the board of the company. Although public shares were issued in 1971, Worthington still controlled 94 percent of the company.
McGraw Edison acquired Studebaker-Worthington, and thus Masoneilan, in 1979. Dresser Industries acquired Masoneilan in 1985, and in 1998 Halliburton bought Dresser and then spun it off again in 2000. Masoneilan remained a subsidiary of Dresser.