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Silvercrest Industries Inc

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BUSINESS
March 3, 1989 | MICHAEL FLAGG, Times Staff Writer
Silvercrest Industries Inc. of Santa Ana said Thursday it has agreed to sell its mobile home manufacturing subsidiary, a move that would reduce the company's interests to the ownership and operation of mobile home parks. First Capital Acquisitions Inc. in Los Angeles has agreed to pay $1 million for the operation and assume $14 million of debt, according to Silvercrest. Silvercrest placed the manufacturing subsidiary on the block last year.
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BUSINESS
March 3, 1989 | MICHAEL FLAGG, Times Staff Writer
Silvercrest Industries Inc. of Santa Ana said Thursday it has agreed to sell its mobile home manufacturing subsidiary, a move that would reduce the company's interests to the ownership and operation of mobile home parks. First Capital Acquisitions Inc. in Los Angeles has agreed to pay $1 million for the operation and assume $14 million of debt, according to Silvercrest. Silvercrest placed the manufacturing subsidiary on the block last year.
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BUSINESS
July 22, 1987
Silvercrest Industries Inc. of Santa Ana said it plans a public offering of $10 million worth of 20-year convertible subordinated debentures. Gary King, senior vice president and chief financial officer, said $7 million of the proceeds will be used to repay existing debt and would virtually eliminate the company's long-term debt. The remaining $3 million, he said, will be added to the company's coffers for general corporate use. Silvercrest Industries Inc.
BUSINESS
September 10, 1986
Silvercrest Industries Inc. reported net earnings of $315,000 for its fiscal 1986 ended June 30, compared with a fiscal 1985 net loss of $4 million. But revenue fell 6% to $55.7 million from $59.2 million. For its fourth quarter, the Santa Ana manufacturer of mobile homes reported net earnings of $192,000, compared with a net loss of $1.9 million. Fourth-quarter revenue fell 3% to $15.1 million from $15.6 million.
BUSINESS
July 29, 1988 | Michael Flagg, Times staff writer
Silvercrest Industries Inc. in Santa Ana on Thursday claimed a victory in its legal battle with former partner Kaufman & Broad Inc. of Los Angeles. A federal bankruptcy judge in Santa Ana rejected several motions by Kaufman & Broad that Silvercrest attorneys said would have restricted Silvercrest's ownership rights to a San Fernando Valley mobile home subdivision.
BUSINESS
September 13, 1988 | MICHAEL FLAGG, Times Staff Writer
Silvercrest Industries Inc. in Santa Ana said Monday it is trying to sell its mobile-home manufacturing business, which last year accounted for 78% of the company's sales and 74% of its profits. The company was prodded by the American Stock Exchange to make the brief announcement after a flurry of trading in its stock Friday and Monday, Silvercrest said. The company said it contacted a potential buyer two weeks ago. No price for the business has yet been negotiated, Silvercrest said.
BUSINESS
February 4, 1988 | MICHAEL FLAGG, Times Staff Writer
Los Angeles home builder Kaufman & Broad Inc. has sued Santa Ana's Silvercrest Industries Inc., claiming that Silvercrest defrauded the company in a joint venture to develop a mobile home subdivision in the San Fernando Valley. The suit brings the two companies' partnership to a contentious close a little less than a year after Silvercrest had announced the project and said it would greatly boost Silvercrest sales and profits.
BUSINESS
January 5, 1986 | ROBERT HANLEY, Times Staff Writer
Orange County's publicly traded companies generally benefited from 1985's bull market, with record gains in the Dow Jones industrial average creating an investment climate that helped boost the total market value of many local firms. Complete data was unobtainable for many small public companies whose stocks are lightly traded on small exchanges, but of 77 leading issues examined in a Times study, companies which gained in market value during the year outnumbered losers by more than 2 to 1.
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