Terminal Data Corp. of Woodland Hills has called off a relocation to a new plant in Simi Valley. The company has decided instead to sell or lease its new building.
The office-and-manufacturing facility, which the company has valued at $27 million, has 280,000 square feet of covered space on 43 acres, said Theodore Horwith, an assistant vice president with Merrill Lynch Commercial Real Estate.
Michael Rothbart, Terminal Data's president, chairman and chief executive, could not be reached for comment. Horwith said company officials decided to abandon plans to consolidate its Northern and Southern California facilities in Simi Valley because "business conditions did not meet their expectations."
Hit hard by slumping sales, Terminal Data lost $2.6 million on revenue of $34.8 million for the fiscal year ended Sept. 30. Those sales were off 24% from the year before.
The company makes systems that convert documents to images that can be stored on microfilm, magnetic disks or optical disks.