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VENTURA COUNTY REVIEW

Shift in Management Planned at Alpharel

July 13, 1993|Jack Searles

A management shift is in the works at Alpharel Inc., a Camarillo producer of imaging systems that is about to acquire a San Diego competitor.

Robert T. Bruce, Alpharel's chairman, will continue in that position but will also resume his former posts as president and chief executive officer. He'll take on the additional duties upon the merger with Optigraphics Corp.

Bruce was Alpharel's president and chief executive from April, 1990, until October, 1991, when he stepped down to serve as chairman and consultant. Roger H. Erickson, the present chief executive, will remain with the company in an as-yet undetermined capacity, said John W. Low, chief financial officer.

Low said that as a result of the merger, Optigraphics shareholders will receive a total of $10.8 million, including $4.4 million in cash and the rest in stock and notes.

The merger, subject to shareholder and regulatory approval, is expected to be complete in 45 to 60 days, Low said.

Between them, Alpharel and Optigraphics have 130 employees and annual revenues of $16 million. The companies produce systems for storing large volumes of documents and information for business and government.

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