Calnetics Corp. to Merge With Summa Subsidiary

Calnetics Corp., a Chatsworth maker of plastic components used in agricultural equipment, said is has signed a letter of intent with Torrance-based Summa Industries to merge with a Summa subsidiary.

Summa is a maker of plastic components for the lighting industry. For the fiscal year that ended June 30, Calnetics had a profit of $1.7 million on sales of $35.2 million. For the fiscal year that ended Aug. 31, Summa had a profit of $803,000 on sales of $13 million.