Gradco Systems Names Ohlson Chief Executive

Gradco Systems Inc., a major manufacturer of paper-handling equipment for printing and copying machines, has named P. Kenneth Ohlson president and chief operating officer. He succeeds Keith B. Stewart, who remains chairman and chief executive officer. Ohlson, who previously served as Gradco’s executive vice president, will assume his new position next week.

In a prepared statement, Stewart said that Ohlson’s promotion enhances management’s ability to concentrate on day-to-day operations as well as the company’s future expansion plans.

Santa Ana-based Gradco suffered a $5.49 million loss in its latest fiscal year. At the time the company reported the loss, Gradco officials said they believed the company would post a profit in fiscal 1986 because of increased production from its new Korean manufacturing facility.

Stewart said Thursday that the company’s Korean manufacturing program is “progressing well.” He said “Korean deliveries are exceeding previous forecasts and we expect total unit production (U.S. and Korea) for our second quarter ending Sept. 30, 1985, to about triple our first-quarter production. He noted that the company currently has a $61 million backlog in orders.