SFE President Seeks Investors to Buy Division

SFE Technologies, a financially troubled electronics company based in San Fernando, said its president, Michael Rosenberg, is approaching several investor groups with a proposal to purchase SFE’s San Fernando Electric division.

Jerome Jahn, SFE’s executive vice president, said that in July, the company hired Brockett & Tamny, a Pasadena investment banking concern, to study restructuring or selling divisions, including San Fernando Electric.

SFE also announced that Rosenberg had resigned from SFE’s board of directors to avoid a conflict of interest in any negotiations that could result from an offer to buy the division. Rosenberg will continue to be president and chief operating officer.

In addition, SFE said that Donald Rubendall and Donald Butler resigned from the board, which voted to reduce its membership to four directors.

Separately, a Santa Ana computer chip manufacturer said it increased its stake in SFE from 7.4% to 8.8%, or 628,961 common shares. Microsemi Corp. reported in a filing with the Securities and Exchange Commission that it bought 100,000 shares of SFE stock for $9,000 on Sept. 10.