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Rexon Inc

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BUSINESS
November 5, 1991
Rexon Inc., a Manhattan Beach producer of cartridge tape, digital audio tape drives and personal computer products that has major operations in Simi Valley, said it has agreed to acquire WangDAT Inc., a manufacturer of digital audio tape products. The $12-million purchase price will be paid in 1 million shares of Rexon stock and subordinated notes that are convertible into Rexon common stock at $20 per share, the company said.
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BUSINESS
January 3, 1995 | JACK SEARLES
Two top officials of Rexon Inc. are bullish about the company, which is relocating its corporate headquarters and its Wangtek plant from Simi Valley to Ohio. At least, Robert C. Genesi, Rexon's chairman and chief executive, and I. R. (Pete) Reuling, chief financial officer, have been buying Rexon's stock on the open market. During the second week in December, Genesi bought 20,000 of the firm's common shares at or just below $5 a share, the company says. Reuling purchased 5,000 shares at $5.
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BUSINESS
November 16, 1993
Rexon Inc., a disk-drive and software maker with offices in Manhattan Beach and Simi Valley, said it has signed an agreement to buy Emeritus Technologies, a Fresno software company, for about $6.3 million in stock. Rexon said the payment would be in the form of 350,000 shares of Rexon common stock and the liquidation value of a new issue of Rexon Series A convertible preferred stock redeemable at the end of five years. The deal is expected to be completed by the end of the month.
BUSINESS
November 15, 1994
Rexon Inc., the Simi Valley maker of computer backup systems, said it will take a restructuring charge in the fourth fiscal quarter and fiscal year that ended Oct. 2 because of costs related to moving the remainder of its operations out of the area. The amount of the charge, which includes severance pay and moving costs for employees, has not been determined, the company said. Rexon said more than half of the 140 workers at its Simi Valley facility will lose their jobs by the end of December.
BUSINESS
July 26, 1994
Rexon Inc., a Simi Valley supplier of computer software and data storage products, reported a profit turnaround in its fiscal third quarter from a year-earlier loss. In the three months that ended July 3, Rexon had net income of $220,000, in contrast with a net loss of $48.2 million a year before. Its net sales rose 16% in the recent quarter, to $53.1 million from $45.7 million. For the nine months, the company reported earnings of $258,000, while its net sales increased 6%, to $152.8 million.
BUSINESS
September 27, 1994
Rexon Inc., a Simi Valley-based producer of software and computer data-storage systems, said it has opened an engineering center in Longmont, Colo. for its Wangtek and WangDAT tape-drive products. The Colorado center will replace the company's Irvine facility, which is scheduled to be closed early next month. The move is part of a broad restructuring effort launched by Rexon last year, when the company reported a loss of $53 million amid fierce pricing competition.
BUSINESS
February 28, 1989 | David Olmos, Times staff writer
Alpha Microsystems has agreed to acquire Rexon Business Machines Corp., a Culver City-based computer maker, for $2.5 million. Alpha Micro, a Santa Ana computer maker, said the purchase would give it entree into the market for business computers that use the Pick, Xenix and Business Basic operating systems. An operating system is the software that acts as the brains of the computer, allowing it to read programs and carry out instructions. Rexon Business Machines, a subsidiary of Rexon Inc.
BUSINESS
January 3, 1995 | JACK SEARLES
Two top officials of Rexon Inc. are bullish about the company, which is relocating its corporate headquarters and its Wangtek plant from Simi Valley to Ohio. At least, Robert C. Genesi, Rexon's chairman and chief executive, and I. R. (Pete) Reuling, chief financial officer, have been buying Rexon's stock on the open market. During the second week in December, Genesi bought 20,000 of the firm's common shares at or just below $5 a share, the company says. Reuling purchased 5,000 shares at $5.
BUSINESS
November 10, 1992 | JACK SEARLES
Rexon Inc. of Simi Valley has signed a memorandum of understanding with Sony Corp. of Japan to jointly design and produce Rexon's digital audiotape products. Rexon's subsidiary in Irvine, WangDAT, will represent the Ventura County firm in the partnership. "We will have a team working in Irvine and Sony will have one in Japan," Rexon spokesman Veraje Anjargolian said. "The two groups will meet regularly to compare notes."
BUSINESS
August 3, 1993 | JACK SEARLES
Troubled disk-drive maker Rexon Inc. said it expects to report a loss for its fiscal third quarter, which ended June 27, because of restructuring costs. Michael O. Preletz, chairman and chief executive, said in a statement that the company is restructuring its operations and writing off $38 million to $48 million in intangible assets and licenses. But no layoffs or transfers are planned at its Wangtek Inc. unit in Simi Valley.
BUSINESS
October 25, 1994 | Jack Searles
Rexon Inc., whose Wangtek computer cartridge division was one of Simi Valley's largest employers as recently as the late 1980s, is joining the list of companies that are saying goodby to Southern California. At the end of the year, Rexon will close the Wangtek plant, long an industrial landmark on Moreland Road. Rexon's corporate headquarters, which moved into that building from Manhattan Beach only last January, will be relocated to Solon, Ohio, a Cleveland suburb.
BUSINESS
September 27, 1994
Rexon Inc., a Simi Valley-based producer of software and computer data-storage systems, said it has opened an engineering center in Longmont, Colo. for its Wangtek and WangDAT tape-drive products. The Colorado center will replace the company's Irvine facility, which is scheduled to be closed early next month. The move is part of a broad restructuring effort launched by Rexon last year, when the company reported a loss of $53 million amid fierce pricing competition.
BUSINESS
July 26, 1994
Rexon Inc., a Simi Valley supplier of computer software and data storage products, reported a profit turnaround in its fiscal third quarter from a year-earlier loss. In the three months that ended July 3, Rexon had net income of $220,000, in contrast with a net loss of $48.2 million a year before. Its net sales rose 16% in the recent quarter, to $53.1 million from $45.7 million. For the nine months, the company reported earnings of $258,000, while its net sales increased 6%, to $152.8 million.
BUSINESS
November 16, 1993
Rexon Inc., a disk-drive and software maker with offices in Manhattan Beach and Simi Valley, said it has signed an agreement to buy Emeritus Technologies, a Fresno software company, for about $6.3 million in stock. Rexon said the payment would be in the form of 350,000 shares of Rexon common stock and the liquidation value of a new issue of Rexon Series A convertible preferred stock redeemable at the end of five years. The deal is expected to be completed by the end of the month.
BUSINESS
August 3, 1993 | JACK SEARLES
Troubled disk-drive maker Rexon Inc. said it expects to report a loss for its fiscal third quarter, which ended June 27, because of restructuring costs. Michael O. Preletz, chairman and chief executive, said in a statement that the company is restructuring its operations and writing off $38 million to $48 million in intangible assets and licenses. But no layoffs or transfers are planned at its Wangtek Inc. unit in Simi Valley.
BUSINESS
March 23, 1993 | JAMES F. PELTZ, TIMES STAFF WRITER
There's a rule in the computer business that has ruined more than one company that couldn't heed it: A product invariably will keep dropping in price even as its performance improves. Witness prices of the personal computer, the semiconductor or the videocassette recorder. And it's a rule that Rexon Inc. and its Simi Valley-based unit, Wangtek, are now struggling to keep up with.
BUSINESS
July 28, 1992 | JACK SEARLES
Wangtek Inc. of Simi Valley and its parent, Rexon Inc., have reached a 10-year co-licensing agreement involving Wangtek's tape-drive backup systems used in computer information storage. The agreement, with Archive Corp. of Costa Mesa, resolves a three-year dispute with Archive and a firm it acquired, Cipher Data Corp. Details of the agreement were not disclosed. For the three months ended June 28, Wangtek's parent company, Manhattan Beach-based Rexon, announced revenues of $57.
BUSINESS
November 15, 1994
Rexon Inc., the Simi Valley maker of computer backup systems, said it will take a restructuring charge in the fourth fiscal quarter and fiscal year that ended Oct. 2 because of costs related to moving the remainder of its operations out of the area. The amount of the charge, which includes severance pay and moving costs for employees, has not been determined, the company said. Rexon said more than half of the 140 workers at its Simi Valley facility will lose their jobs by the end of December.
BUSINESS
November 10, 1992 | JACK SEARLES
Rexon Inc. of Simi Valley has signed a memorandum of understanding with Sony Corp. of Japan to jointly design and produce Rexon's digital audiotape products. Rexon's subsidiary in Irvine, WangDAT, will represent the Ventura County firm in the partnership. "We will have a team working in Irvine and Sony will have one in Japan," Rexon spokesman Veraje Anjargolian said. "The two groups will meet regularly to compare notes."
BUSINESS
July 28, 1992 | JACK SEARLES
Wangtek Inc. of Simi Valley and its parent, Rexon Inc., have reached a 10-year co-licensing agreement involving Wangtek's tape-drive backup systems used in computer information storage. The agreement, with Archive Corp. of Costa Mesa, resolves a three-year dispute with Archive and a firm it acquired, Cipher Data Corp. Details of the agreement were not disclosed. For the three months ended June 28, Wangtek's parent company, Manhattan Beach-based Rexon, announced revenues of $57.
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