Air Pollution Control Equipment

Unocal Will Announce Third Scrap-Car Buy: Calling the project "Cash for Clunkers," Los Angeles-based Unocal Corp. will again purchase older, heavily polluting vehicles. But for the first time, under Rule 1610 of the South Coast Air Quality Management District, the oil company will receive credit for the reduction in air pollution. Unocal will use the credit to avoid buying air pollution control equipment for its marine terminal facility in Los Angeles Harbor.

Wahlco Environmental Systems Inc. said Monday it raised $2.7 million in a rights offering as part of its financial restructuring plan. The Santa Ana manufacturer of engineered products and air pollution control equipment said public stockholders exercised about 75% of the rights to raise $2 million, while the standby underwriter will provide the remaining $700,000.

Wahlco Environmental Systems Inc. said Monday it raised $2.7 million in a rights offering as part of its financial restructuring plan. The Santa Ana manufacturer of engineered products and air pollution control equipment said public stockholders exercised about 75% of the rights to raise $2 million, while the standby underwriter will provide the remaining $700,000.

Wahlco Environmental Systems Inc. plans to offer shareholders the right to purchase common stock at a substantial discount. The offering applies to shareholders other than its majority shareholder, WES Acquisition Corp. To reduce the number of shares outstanding, the company also said Thursday that it plans a reverse stock split, subject to the approval of the New York Stock Exchange, after the rights offering. The company said shareholders will be issued eight rights for each share owned.

Wahlco Environmental Systems Inc. plans to offer shareholders the right to purchase common stock at a substantial discount. The offering applies to shareholders other than its majority shareholder, WES Acquisition Corp. To reduce the number of shares outstanding, the company also said Thursday that it plans a reverse stock split, subject to the approval of the New York Stock Exchange, after the rights offering. The company said shareholders will be issued eight rights for each share owned.

The South Coast Air Quality Management District has responsibility for controlling air pollution in the area. It has the power to seek court-imposed fines against polluters of $25 to $25,000 a day, based on such factors as the extent that emissions exceed legal limits, the potential danger to the public, whether the violation was intentional or accidental and the company's history of violations. These are the 10 highest penalties paid in May: COMPANY TYPE OF BUSINESS PENALTY Mobil Oil Corp.

Wahlco Environmental Systems Inc. said it has completed a loan agreement with its majority shareholder that gives the maker of air pollution control equipment up to $1.6 million of additional working capital. The loan agreement with WES Acquisition Corp. extends through the end of the year and gives Wahlco the ability to draw on the funds immediately.

Wahlco Environmental Systems Inc. said it has applied to have its common stock listed on the Nasdaq Bulletin Board, an unregulated electronic marketplace. The Santa Ana company's stock has been listed on the New York Stock Exchange, but trading was suspended last month because the company fell below listing requirements. The exchange said Wahlco has less than $12 million in net tangible assets available to common shares and less than $600,000 in average net income for the last three years.

Unocal Will Announce Third Scrap-Car Buy: Calling the project "Cash for Clunkers," Los Angeles-based Unocal Corp. will again purchase older, heavily polluting vehicles. But for the first time, under Rule 1610 of the South Coast Air Quality Management District, the oil company will receive credit for the reduction in air pollution. Unocal will use the credit to avoid buying air pollution control equipment for its marine terminal facility in Los Angeles Harbor.

The South Coast Air Quality Management District has responsibility for controlling air pollution in the area. It has the power to seek court-imposed fines against polluters of $25 to $25,000 a day, based on such factors as the extent that emissions exceed legal limits, the potential danger to the public, whether the violation was intentional or accidental and the company's history of violations. These are the 10 highest penalties paid in May: COMPANY TYPE OF BUSINESS PENALTY Mobil Oil Corp.

Wahlco Environmental Systems Inc., which makes air pollution control equipment as well as water purification and bottling systems, reported a first-quarter net loss of $810,000, or 5 cents a share, compared to a net loss of $517,000, or 3 cents a share, for the 1995 first quarter. Revenue declined 16% to $13.4 million from $15.9 million. The company attributed the loss for the 1996 quarter to lack of large utility contracts for its Flue Gas Conditioning Systems.

Wahlco, an air pollution control equipment manufacturer based in Santa Ana, has agreed to be acquired by Pacific Diversified Capital, a subsidiary of San Diego Gas & Electric, for an undisclosed price, Pacific said Tuesday. Wahlco, which manufactures equipment for the electric utility industry, posted $18.5 million in 1986 revenues. The company is profitable, according to Pacific President Richard Korpan. Wahlco is the fourth acquisition announced by Pacific within the past year.