March 31, 1987
Penn Central Corp., a major manufacturer and defense contractor, named Chairman Carl H. Lindner to the additional position of CEO. Ronald F. Walker, a director, was elected president and chief operating officer during a meeting of the board. Alfred W. Martinelli, who had been president and CEO, was elected vice chairman. Lindner also said the company would develop plans for the possible sale or spinoff of its Sprague subsidiary and other electronics units.
April 21, 1992 |
The Oxnard unit of Vitro Corp. has received a $24.6-million contract to continue weapons systems work for the Port Hueneme Division, Naval Surface Warfare Center, formerly known as NEMESIS. The five-year, follow-on order calls for Vitro to provide engineering services for such Navy weapons systems as the Tomahawk, Terrier, Tartar and Harpoon missiles. A Vitro spokeswoman said she did not expect the award to lead to new hiring. Vitro, a subsidiary of Penn Central Corp.
January 2, 1991 |
Penn Central Corp. said today it has completed the purchase of American Financial Corp.'s non-standard auto insurance group for about $335 million. The price is subject to change after a review of the group's pretax earnings for 1991-94, Penn Central said. The price could fall by as much as $20 million or rise by up to $40 million. Both companies are controlled by financier Carl H. Lindner, the biggest shareholder in American Financial and chief executive of Penn Central.
March 14, 1989
Shareholders are scheduled to vote March 31 on whether to approve the acquisition of Republic American Corp., an Encino workers' compensation insurance company, by Penn Central Corp. The merger, which needs the blessing of those owning two-thirds of Republic American's shares, is expected to be approved. Both companies are controlled by Cincinnati financier Carl H. Lindner.
July 30, 1988 |
Republic American Corp., an Encino workers compensation company, said Friday that its directors are reviewing an offer by Cincinnati financier Carl H. Lindner to buy the 47.4% stake in the company Lindner doesn't already control. Lindner is offering 0.65 of a share of stock in Penn Central Corp., which he controls, for each Republic American share in a deal now valued at about $127 million. Lindner effectively controls Penn Central, a Greenwich, Conn.