Sierracin Corp

* PRC Inc., a subsidiary of Litton Industries, Woodland Hills, has won a contract from the Navy's East Coast Tactical Training Range Complex, estimated at $78 million over five years. * Sierracin Corp., Sylmar, won a $495,091 contract from the Navy in Philadelphia for aircraft and airframe structural components. * Hydraulics International Inc., Chatsworth, won a $104,365 contract from Defense Supply Center in Columbus, Ohio, for pipe, tubing, hose and fittings.

Sierracin Corp. said Friday that the Securities and Exchange Commission has ended a nearly two-year investigation of the Sylmar firm and will not recommend that any kind of enforcement action be taken against it or its employees. The SEC refused to confirm or deny Sierracin's statement. But Gerald Boltz, Sierracin's lawyer, said Friday that he had received a letter signed by SEC attorney Peter Badow in Los Angeles saying that the investigation "has been terminated and . . .

Judge Awards $1.5 Million in Frivolous Lawsuit: In one of the biggest fines ever imposed for pursuing a frivolous lawsuit, a Los Angeles judge has ordered a law firm, two of its lawyers and a corporate client to pay $1.5 million to a Buena Park roofing insulation installer and three other defendants. Superior Court Judge Ronald E. Swearinger ruled that Lewis, D'Amato, Brisbois & Bisgaard and its client, Sierracin Corp., knew there was no proof to connect Dittemore Co.

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.

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.

Sierracin Corp. said its profit fell 57% in the second quarter that ended June 30 to $521,000 from $1.2 million a year earlier. Sales for the Sylmar aerospace company rose 10% in the quarter to $20.3 million. Sierracin's results were down mostly because its year-earlier results were boosted by $400,000 in tax credits and a one-time credit of $267,000 stemming from Sierracin's settlement of a lawsuit brought by Boeing Co. over the rights to some cockpit windows.

Sierracin Corp. said its Sierracin/Sylmar division received a contract for $3.5 million to supply Seattle-based Boeing Co. with glass windshields for its 707, 727 and 737 series commercial jets. Sierracin, based in Sylmar, said delivery is expected to start early next year.

* PRC Inc., a subsidiary of Litton Industries, Woodland Hills, has won a contract from the Navy's East Coast Tactical Training Range Complex, estimated at $78 million over five years. * Sierracin Corp., Sylmar, won a $495,091 contract from the Navy in Philadelphia for aircraft and airframe structural components. * Hydraulics International Inc., Chatsworth, won a $104,365 contract from Defense Supply Center in Columbus, Ohio, for pipe, tubing, hose and fittings.

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.

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.

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.

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.

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.

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.

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.

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.