BUSINESS
May 12, 1992 | JAMES S. GRANELLI, TIMES STAFF WRITER
In one of the biggest fines ever imposed for pursuing a frivolous lawsuit, a Los Angeles judge has ordered a well-regarded law firm, two of its lawyers and its client to pay $1.5 million to a Buena Park roofing insulation installer and three other defendants in an unsuccessful product-liability suit. Superior Court Judge Ronald E. Swearinger found that Sierracin Corp.
BUSINESS
December 5, 1989
Sierracin Corp. has scheduled its annual meeting for Jan. 24, at which stockholders will vote on a proposed $30-million buyout of the Sylmar aerospace company. The company said stockholders of record as of this Friday would be entitled to vote at the meeting. Sierracin's directors have approved the buyout bid from a management-led investor group, which offered $15 a share for the 52% of Sierracin it does not already own.
BUSINESS
August 29, 1989
Sierracin Corp. in Sylmar said its second-quarter profit fell 29% from a year earlier, to $370,000 from $521,000. The maker of cockpit windows and other aerospace products said its revenue was virtually flat: $20.4 million in the latest quarter, which ended June 30, compared with $20.3 million a year earlier. Sierracin blamed the lower earnings on operating cost overruns, higher costs for materials, and greater provisions for excess and obsolete inventories.
BUSINESS
June 13, 1989
Sierracin Corp., a Sylmar aerospace company, said it has reached a final agreement to sell its Intrex operation for $5.5 million to Courtaulds United States Inc. Intrex makes coatings used in aerospace and military parts.
BUSINESS
June 10, 1989 | JAMES BATES, Times Staff Writer
Sierracin Corp. said Friday that a group led by its chairman, Christoph Tribull, is offering to buy the Sylmar aerospace company for $15 a share--about $30 million--for the 50% of the firm that the group does not already own. The group, SCS Acquisition Corp., includes other Sierracin executives and Asahi Glass Ltd., a Japanese company that is a major Sierracin stockholder with about 225,000 shares. A Sierracin spokeswoman said the group would have to buy about 2 million shares to acquire the company.
BUSINESS
April 11, 1989
Sierracin Bid Amount Considered: A group led by Sierracin Corp.'s management, which has said it might try to buy the 50% of the Sylmar aerospace parts concern it does not already own, said it is considering a bid of $15 a share, or $25.5 million. No formal offer has been launched, however. The group suggested that the price after Sierracin's stock soared 70% following the group's first announcement March 31. The stock closed at $14 a share, up $1.75, on the American Stock Exchange.