Whittaker to Move Unit to Simi Valley
Whittaker Corp. plans to move its microwave systems division to Simi Valley from Boynton Beach, Fla., early next year.
Whittaker already has an electronic systems unit operating in Simi Valley. The expansion of the local plant also calls for Whittaker to hire about 80 people in the engineering, manufacturing and testing fields, said Ron Moss, vice president for finance for the electronic systems division.
The microwave systems unit makes communications systems, warfare simulators and other defense-related products. Whittaker’s electronic systems group makes radar systems, air traffic control equipment and communication antennas.
About 20 employees of the microwave systems unit will be transferred to Simi Valley from Florida, Moss said. That unit had sales of about $20 million in Whittaker’s fiscal year ended Oct. 31, while the electronic systems division, which employs 360 people in Simi Valley, had sales of about $35 million, he said.
Whittaker, which has its corporate headquarters in Los Angeles, makes a variety of electronic, industrial and chemical products and has more than $400 million in annual sales.
Siemens Division to Supply Tape Drives to 3Com
Siemens Information Systems’ Memory Products Division in Westlake Village has signed a 1-year, $3.5-million contract to supply tape drives, or data storage devices, to 3Com in Santa Clara.
3Com uses the drives in its computer network systems, which link computers in offices. Siemens Information Systems is part of Siemens USA, which is operated by electronics giant Siemens A. G. in Munich, West Germany.
Datron, Radiation Systems Settle Antenna Litigation
Datron Systems, a Simi Valley-based maker of communications products, and Radiation Systems of Sterling, Va., said they had settled litigation related to Datron’s satellite-antenna subsidiary. Terms of the agreement were not disclosed, however.
Datron formed the unit a year ago to build antennas, commonly called “satellite dishes,” that receive television signals from commercial satellites. Radiation’s Universal Antennas division competes in the same market.
When Datron formed its Datron Antennas unit, it hired several former managers of Universal Antennas. That prompted Radiation to sue Datron in state and federal courts in Dallas, where Datron Antennas is based.
Radiation alleged that Datron conspired to entice the Universal Antennas employees to leave, thereby damaging Radiation’s business. Datron denied the charges and countersued in the Texas state court, alleging harassment by Radiation.
Micom Completes Deal for Virginia Concern
Micom, a Simi Valley maker of computer communications equipment, said it completed its acquisition of Spectrum Digital of Herndon, Va., for $19.4 million in cash and stock.
Micom said Spectrum, which makes similar computer equipment, will operate as a wholly owned subsidiary.
Incomnet Sells Portion of Its Indian Subsidiary
Incomnet announced it has sold part of a foreign subsidiary to another company for $400,000. The Westlake Village computer communications company sold a 27% interest in Incomnet India Ltd. to Magnum Telelink India in New Delhi.
Incomnet India develops computer software exported to the United States. Both Incomnet and Incomnet India develop equipment that allows messages to be sent from one computer to another. Incomnet said proceeds received from Magnum Telelink will be used to develop more business in India.
Incomnet has been suffering significant financial problems. For the nine months ended Sept. 30, the company lost $1.4 million, or 17 cents a share, on revenue of $1.2 million. In September, Incomnet raised $400,000 in a private placement in order to pay off institutional lenders.
AME to Purchase 2 N.Y. Post-Production Firms
AME, a leading post-production company for the movie and television industries, continued its expansion effort by agreeing to buy JSL Video Services and DB Sound Studios, two post-production firms in New York.
The purchase prices were not disclosed. Burbank-based AME, with $37 million in revenue for the year ended Sept. 30, expects to complete the deals early next year. JSL Video and DB Sound have combined annual sales of about $7 million.
AME transfers film to videotape and provides other video and audio post-production services, principally for movie and TV studios in Southern California. The company already had expanded in the past year by purchasing two competitors, TAV and Bluth Video.
JSL Video and DB Sound specialize in video and audio post-production work, respectively, for advertising agencies. The proposed acquisitions “mark the geographic expansion of AME to the New York creative, advertising and television production communities,” AME Chairman Andrew M. McIntyre said in a statement.
Sequoia Creative Wins French Smurfs Contract
Sequoia Creative in Sun Valley has been selected to design a $2-million theater that will be part of an $80-million theme park in France based on the Smurfs cartoon characters.
The theater, called “Time Tunnel,” will seat 2,000. The park, “The New World of the Smurfs,” will open in May, 1989, on a 40-acre site near Metz in eastern France.
Sequoia Creative’s projects include the King Kong attraction at Universal Studios and the spaceship featured in the closing ceremonies of the 1984 Summer Olympics in Los Angeles.
Charter National Agrees to Bank of Industry Deal
Charter National Bancorp, parent of single-branch Charter National Bank in Encino, formally agreed to be bought for $6.1 million by Bank of Industry, based in City of Industry.
The companies agreed last week that Bank of Industry would pay $13.25 cash for each of Charter’s 458,870 common shares outstanding. The banks had announced Nov. 23 that they were in preliminary merger talks at that price.
Charter said the deal was approved by its stockholders, but the deal remains subject to approval by banking regulators.
Bank of Industry, with offices in City of Industry and San Francisco, has about $137 million in assets; Charter’s assets total about $50 million.
Compact Video Selling Chain of Drug Stores
Compact Video in Burbank is selling its Brooks Drug store chain for $81.5 million, or $13.5 million less than what Compact paid for Brooks 15 months ago. Hook-SupeRx, a Cincinnati drug store chain with 360 stores, is buying Brooks.
Two weeks ago, a filing with the Securities and Exchange Commission revealed that Compact Video intends to sell a large part of its operating assets. The reason for that decision was not disclosed, nor were the names of prospective buyers, which include videotape-system rentals and electronic editing facilities. Before Compact Video’s September, 1986, acquisition of Brooks, its primary businesses were movie and video services.
While Compact Video announced its plans, corporate raider Ronald O. Perelman increased his interest in Compact Video through his New York-based MacAndrews & Forbes Holdings company. MacAndrews’ stake in Compact increased from 39.69% to 40.75%.
Perelman and Compact Video officials declined comment on any of these developments.
