Haskel International to Sell 1 Million Shares

Haskel International Inc., a Burbank-based maker of high-pressure hydraulic pumps, plans to sell 1 million shares of class A common stock for about $13 each in an initial public offering through the Seidler Companies Inc.

The estimated $8.5 million in net proceeds from the offering will be used to expand the company’s product lines and foreign sales offices and repay debt, among other things. For its fiscal year ended May 31, 1993, the company reported a profit of $2.2 million, down 10% from $2.45 million for its previous fiscal year.

Haskel class A common stock has been approved for listing on Nasdaq. The company specializes in making high-pressure pumps and systems for industrial, commercial, aerospace and military applications.