Advertisement
YOU ARE HERE: LAT HomeCollections

INDUSTRY NOTES

Los Angeles County

July 15, 1985

Logicon Inc., Torrance, has received an 18-month, $2.96-million contract from the Defense Nuclear Agency to develop an "automated target tie-up system" for the Air Force's Strategic Air Command. The program would provide an automated decision-making system to assign targets to manned aircraft and cruise missiles.

The company also reported that it received a contract worth as much as $4.65 million from the Navy-Air Force Joint Cruise Missile Project Office for continued support work on the sea-launched cruise missile system.

Hotel Properties Inc., a Los Angeles-based real estate investment trust, completed its previously announced acquisition of two motels in Irving and El Paso, Tex., for undisclosed terms.

Whittaker Corp., Los Angeles, said it acquired the business and certain assets of Atech Chemical Coatings, Toledo, Ohio, from the Wolverine coil coatings subsidiary of Worldmark Corp., Palm Beach, Fla. Terms of the transaction were not announced.

CALIFORNIA

San Francisco-based Consolidated Fibres Inc. agreed to acquired Plastofilm Industries Inc. of Wheaton, Ill., for $7.4 million in cash. Plastofilm manufactures custom heat-formed plastic packaging.

Martin Marietta Corp., Bethesda, Md., has agreed to acquire a 25% equity position in Mountain View-based Equatorial Communications Co., a provider of satellite-based data communications networks. Under the agreement Martin Marietta will invest $50 million in exchange for a new issue of Equatorial Communications common stock at $14 per share.

Amdahl Corp., Sunnyvale, completed a $50-million private debt placement with New York Life, Aetna Life and Prudential insurance companies. The notes carry a fixed rate for seven years, maturing on June 15, 1992. The proceeds will be used to repay existing bank debt.

Intel Corp., Santa Clara, and Xicor Inc., Milpitas, signed a letter of intent to jointly develop a type of computer memory. Intel said it will receive warrants to buy 1.2 million shares of Xicor's outstanding common stock plus options and warrants at $10 per share.

Trilogy Ltd., Cupertino, said it signed a definitive merger agreement with Elxsi, San Jose, a privately held computer systems manufacturer. Elxsi will be structured as a wholly owned Trilogy subsidiary.

Advertisement
Los Angeles Times Articles
|
|
|