ORANGE COUNTY
Transpacific Development Co. of Torrance has begun construction of a 16-story, $70-million hexagonal office tower at Michelson Drive and Teller Avenue in Irvine. The 327,000-square-foot building, designed by Gin Wong and Associates of Los Angeles, is located on an eight-acre site. It is scheduled for occupancy in May, 1986. Leasing agents are Jay Carnahan, Barry Gail, and Michael Peters of Cushman and Wakefield in Newport Beach.
Global Van Lines Inc. plans to move its headquarters from Anaheim to a new 400,000-square foot building in Orange next year. The new facility, on Glassell Street, is scheduled for completion in January. The Anaheim property, located between the Disneyland and the Santa Ana Freeway, has been sold to Disneyland. Jim Corbett, Global’s vice president of advertising, said the new location will allow Global, the nation’s seventh largest moving company, to consolidate several divisions under one roof and have room for future expansion.
Smith International Inc., a Newport Beach oil services company, Thursday declared a regular quarterly dividend of 8 cents per common share, payable May 31 to shareholders of record May 16. It is the company’s 93rd consecutive quarterly dividend.
Smith also said its 1985 annual meeting has be scheduled for May 24 at 10 a.m. at the Irvine Marriott Hotel.
EIP Microwave Inc., the Newport Beach test equipment manufacturer, said it has received a $280,000 Air Force contract for microwave frequency counters. This is the fourth order placed by the Air Force against a contract that has a potential value of $6.2 million, the company said. The previous orders were for $2.9 million worth of equipment, bringing the total orders to date to $3.2 million. The Air Force has until Dec. 31 to exercise its option on the additional units.
Environmental Diagnostics Inc. of Irvine said it is forming a new subsidiary, Disease Detection International Inc., to develop test kits for detecting certain parasitic diseases in livestock.
EDI Chairman James G. Watt said parasitic diseases are a “serious worldwide health problem for millions of people” because humans consume livestock which carry one or more parasites.
Environmental Diagnostics designs, develops, manufactures and markets test kits for the detection and monitoring of toxic or hazardous substances in food, water, livestock, chemical solutions and many other applications.
AST Research Inc., as anticipated, has filed an offering of 1.4 million shares of common stock with the Securities and Exchange Commission. The Irvine computer-hardware manufacturer said 800,000 shares will be offered by the company and the remainder will be offered by certain unidentified shareholders. The offering is to be co-managed by L. F. Rothschild, Unterberg, Towbin and Shearson, Lehman Brothers Inc. AST said the shares are to be offered beginning in early May.
