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Industry Notes

March 12, 1985

Vitalmetrics has completed its acquisition of Timron Instruments Inc., a surgical instrument system developer.

Campbell Properties Inc., a Mission Valley-based real estate firm, was acquired by Merrill Lynch Realty Associates Inc., for undisclosed terms. Merrill Lynch Realty, with 400 residential sales offices nationwide, first entered the San Diego market last year with the acquisition of Rancho Bernardo Realty.

Aerojet General of La Jolla has been awarded a $35.6 million contract to develop the second stage of the small ICMB.

Rohr Industries Inc. said it expects to call for redemption all $24.9 million of its outstanding 9% convertible subordinated debentures due March 1, 2003. The company will pay $1,072 per $1,000 in principal amount of debentures, plus accrued interest of $4.75, for a total redemption price of $1,076.75. But most bondholders will likely take stock instead of cash. Each debenture is convertible into 34 shares of Rohr common stock at a conversion price of $28.75 per common share, significantly below the recent $53 price range for the stock.

Maxwell Laboratories Inc. said it received a $2 million subcontract from Perkin-Elmer Corp. to design, fabricate and test a bright X-ray device to be used in the production prototype of a lithographic system.

Escondido National Bank directors declared a 5% stock dividend payable March 31 to shareholders of record March 15.

Infrasonics Inc. said it completed a master distribution agreement with Les Fuller & Associates of London, England, for marketing and servicing of its respiratory care products in Europe, the Middle East and Africa.

First National Corp., parent of First National Bank, said its common stock is now included in the NASDAQ National Market System under the symbol "FNBC."

San Diego Gas & Electric Co. directors declared a regular quarterly cash dividend of 52.5 cents per share of common stock, payable April 15 to shareholders of record March 20.

Imagineering Products Inc. has acquired Nuovatek for an undisclosed amount. The two custom manufacturing companies, which plan to consolidate operations at a new 20,000 square-foot facility in Carlsbad, expect to have annual sales of about $5.5 million by 1989. John W. Earle will continue as president of Imagineering Products and Nuovatek President Michaelangelo Di Martino will serve as vice president of the combined companies.

The Signal Cos. Inc. said it will redeem all 604,283 outstanding shares of its Series B cumulative convertible preferred stock on April 4. for $40.36 per share. But the 675 shareholders will likely take advantage of the conversion feature and take common stock instead. The Series B preferred stock is convertible into Signal common stock on the basis of two shares of common for each share of preferred, for a value of about $67 per share of preferred stock.

Construction has commenced on the 82-room TraveLodge in La Mesa, set to open in June.

Spectragraphics Corp. has signed contracts worth $2.2 million to supply advance graphics work stations to Logicon Corp. and Beloit Corp.

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