The anticipated sale of Parrsboro Metal Fabricators Ltd. to Granby Industries, a wholly owned subsidiary of Halifax-based Clarke Inc., was made official Wednesday.

About 50 people work at the Cumberland County company that makes oil, pellet and wood-fired furnaces and boilers.

“It’s certainly a difficult decision, but in our industry over the last little while it’s become increasingly competitive,” company president Steve Wilson said in an interview.

“We’re still coming out of the throes of a recession and our industry hasn’t been any stranger to that recession.”

Joining a larger company with a broader network of customer contacts made a lot of sense, he said.

“It just became evident that you had to get bigger in order to compete. Most of our competitors are large multi-national companies, and it’s becoming harder to remain a smaller niche player in that market.”

Wilson wouldn’t divulge the purchase price, which he described as fair.

He couldn’t say what will happen to the employees, who are not unionized.

“That’s up to Granby, moving forward. . . . They have control of the shares and assets now.”

Wilson Fuel Co., where Steve Wilson is a director, will remain a customer.

“Wilson Fuel installs furnaces and boilers made by Parrsboro,” he said. “I imagine that will stay the same. It’s an exceptional product.”

Officials from Granby could not be reached for comment.