LOWVILLE — The state comptroller will make a "major investment announcement" this morning at a 104-year-old, family-owned manufacturing company here.

Comptroller Thomas P. DiNapoli is scheduled to make the announcement at 11:30 a.m. at Climax Manufacturing Co. headquarters, 7840 Route 26, just north of the village, according to a media advisory issued by his office.

The Times has been told the announcement involves the sale of the company by the Hirschey family, now in its fourth generation of operating the papermaking and packaging company. However, details have not formally been released.

When reached by telephone Thursday night, Lee T. Hirschey, chairman of the executive committee reporting to Climax's board of directors and former chief executive officer, said that a "transaction" likely will be completed today. However, he declined further comment.

"I really can't talk to you until after the press conference," said Lisbeth Hirschey, president of the company's packaging division and Mr. Hirschey's half sister.

However, she did say that the move is "going to be a good thing" for Climax.

Company CEO Patrick J. Purdy was unable to be reached for comment Thursday night.

Samuel L. Hirschey in 1902 founded the Climax Incubator and Brooder Co., which produced incubators designed specifically for hatching chicken eggs, in Castorland.

In 1904, the company began manufacturing boxes for florists and cheese drums for local dairy producers at its Castorland plant. Later that year, the incubator operation was discontinued and the company was incorporated as Climax Manufacturing.

The company, which now produces packaging for food, retail and industrial products, in 1988 moved its headquarters here but still uses its old Castorland facility for storage.

Climax also operates a papermaking mill at 30 Champion St. in West Carthage and a warehouse facility in Syracuse.

The company has about 275 employees, most of whom work in Lowville.

Climax over the past several decades has converted from a "commodity-type business" to a producer of more upscale, specialty packaging, Mr. Hirschey said during a 2004 interview for a story about the company's 100th anniversary.

Improving telecommunications and the advent of the Internet also brought about a drop in Climax's regional sales force from 18 to three or four, he said at the time.

The company over the past decade has invested heavily in equipment and facility upgrades, including a $4.5 million project in 2001 during which a 40-inch flexographic in-line press was purchased. The press allows company employees to reproduce nearly any picture or image onto packaging material.