Thermodynetics, Inc., a manufacturer of manufacture of metal tubing and tubing assemblies for the heat transfer and other industries in Windsor, Conn., said Aug. 31 would be the last day of operations for its troubled Vulcan Industries, Inc., operating unit.
Vulcan, as a consequence of the loss of sales and unpaid receivables following a damaging storm in Lower Michigan in early June, suffered significant losses and is unable to meet its obligations to its creditors. The company's bank isn't funding the cash shortfall and, as a result Vulcan, was unable to continue operations.
Earlier, Thermodynetics announced its wholly owned subsidiary, Turbotec Products, Inc., received an order for approximately $3 million to provide enhanced surface stainless steel tubing for commercial boiler applications. The enhanced tubing increases the boiler's heat transfer capabilities, thereby increasing the boiler's performance, the company said.