Advertisement
YOU ARE HERE: LAT HomeCollectionsSafety Components International Inc
IN THE NEWS

Safety Components International Inc

FEATURED ARTICLES
ARTICLES BY DATE
BUSINESS
January 13, 1998 | John O'Dell, John O'Dell covers major Orange County corporations and manufacturing for The Times. He can be reached at (714) 966-5831 and at john.odell@latimes.com
The Costa Mesa-based air bag parts manufacturing unit of Safety Components International Inc. has won orders from a major supplier that should increase production at its Mexican manufacturing plant by 700,000 air bag cushions a year. Total annual revenue from the contract is about $9.7 million.
Advertisement
BUSINESS
September 20, 1994
Safety Components International Inc.'s stock jumped by nearly 19% after the company announced it has been awarded a contract by the U.S. Army for the production of 120mm mortar cartridges. Safety Components' stock closed Monday at $17.25, up $2.75 from Friday's closing price of $14.50. The two-year contract to produce the casing used in making the large caliber ammo is valued at $65 million and contains an option for the Army to purchase up to $200 million worth of mortar cartridges.
BUSINESS
August 5, 1996
Safety Components International Inc., an automotive air bag maker and supplier of ordnance and other related defense products, reported net income of $853,000, or 17 cents a share, for its first fiscal quarter, down from $1 million, or 24 cents a share, recorded a year ago. Sales for the quarter ended June 30 declined 32% to $16.2 million from $23.7 million.
BUSINESS
June 7, 1996
Safety Components International Inc. said Thursday it has signed an agreement to buy Phoenix Airbag GmbH, a major European producer of air bags. Phoenix, based in Hildesheim, Germany, is the former air bag subsidiary of Phoenix AG of Hamburg. Terms were not disclosed. The purchase is expected to close by the end of June. Safety Components makes automotive air bags and supplies ordnance and other related defense products.
BUSINESS
December 8, 1995
Safety Components International Inc. said Thursday that it plans to repurchase 250,000 shares of its own stock to stem a decline in the price of its shares since September. After reaching $20 a share in September, the Costa Mesa company's stock fell to $14.25 Wednesday. The company, which manufactures automotive air bags, has 5.1 million public shares outstanding. The stock of Safety Components closed Thursday at $15.25 a share, up $1 in Nasdaq trading.
BUSINESS
August 15, 1997 | John O'Dell, John O'Dell covers major Orange County corporations and manufacturing for The Times. He can be reached at (714) 966-5831 and at john.odell@latimes.com
Air-bag maker Safety Components International Inc. has moved its corporate headquarters and 15 corporate employees from Costa Mesa to New York. The move was triggered by the company's recent purchase of an air-bag fabric maker in South Carolina. "Most of our legal and financial consultants are on the East Coast," said Jeffrey Kaplan, the company's executive vice president and chief financial officer. "And now, with the South Carolina acquisition, we have facilities on both coasts and in Europe.
BUSINESS
July 27, 1997 | Bloomberg News
Safety Components International has completed the purchase of an air bag fabric manufacturer from Collins & Aikman Corp. for $57 million in cash and debt. Safety Components acquired the Air Restraint and Technical Products Division of JPS Automotive LP, a unit of Collins & Aikman, for $56.3 million in cash and paid off the division's $650,000 debt to expand its air bag manufacturing business.
BUSINESS
July 2, 1997 | PATRICE APODACA, TIMES STAFF WRITER
Auto air bag maker Safety Components International Inc. said Tuesday that it plans to acquire a major supplier of air bag fabric in hopes of gaining an edge in the fast-growing but increasingly competitive industry. The deal calls for Costa Mesa-based Safety Components to pay $56.3 million in cash to purchase the air restraint and technical products division of JPS Automotive L.P. from parent Collins & Aikman Corp.
BUSINESS
June 2, 1997 | John O'Dell
Auto air-bag maker Safety Components International Inc. said it has acquired the car parts company that has been its major shareholder since its inception in 1994. Both Safety Components and the parts company, Valentec International Corp., are based in Costa Mesa. Publicly traded Safety Components was formed from several former Valentec units, the two companies share headquarters, and Safety Components chief executive, Robert A. Zummo, owned 80% of Valentec's stock until last week's transaction.
BUSINESS
November 4, 1996
Safety Components International Inc. posted lower profit and sales for the second fiscal quarter ended Sept. 30. The company, which makes automotive air bags and supplies defense products, reported that net income declined 15% to $1.1 million, or 23 cents a share, from $1.3 million, or 26 cents a share, for the same period last year. Sales dropped 25% to $18.9 million from $25.3 million. The defense division's sales for the quarter slipped to $3.3 million from $13 million.
BUSINESS
August 7, 1996
Auto air bag maker Safety Components International Inc. said Tuesday it has completed its $22 million acquisition of German air bag maker Phoenix Airbag GmbH. The purchase price is subject to adjustment based on a final determination of Phoenix's net worth. Additionally, Safety Components has agreed to pay up to $7.5 million more in three annual installments if certain financial targets are met by Phoenix. Costa Mesa-based Safety Components supplies air bags to TRW Inc.
Los Angeles Times Articles
|