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Valentec International Corp

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BUSINESS
July 19, 1994 | JOHN O'DELL, TIMES STAFF WRITER
Valentec International Corp. said Monday it has signed a preliminary agreement to sell its four remaining manufacturing units, including its Wells Division military ordnance plant in Costa Mesa. Valentec said it plans to sell the units to CPI Aerostructures Inc. of Ronkokoma, N.Y, in a cash and stock deal. Details were not disclosed.
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BUSINESS
September 3, 1998 | From Associated Press
A Costa Mesa company Wednesday pleaded guilty to a bid-rigging charge involving materials sold to the Milan Army Ammunition Plant from 1988 to 1992. Valentec International Corp. LLC will pay $500,000 to the government as part of a settlement accepted by the U.S. Justice Department, said Richard Reed, a Justice Department attorney. In a one-count felony charge filed in U.S. District Court in Jackson, Tenn.
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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
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
September 3, 1998 | From Associated Press
A Costa Mesa company Wednesday pleaded guilty to a bid-rigging charge involving materials sold to the Milan Army Ammunition Plant from 1988 to 1992. Valentec International Corp. LLC will pay $500,000 to the government as part of a settlement accepted by the U.S. Justice Department, said Richard Reed, a Justice Department attorney. In a one-count felony charge filed in U.S. District Court in Jackson, Tenn.
BUSINESS
May 7, 1994 | JOHN O'DELL, TIMES STAFF WRITER
Safety Components International, an automotive air-bag maker, raised $13.2 million Friday in an initial public offering that had investors bidding up the price much of the day before cooling a bit. The hot stock, which trades on the Nasdaq electronic system, rose almost 23% in value from its $10 offering price before settling down to close at $11.625 a share. Safety Components is a spinoff of Valentec International Corp., a Costa Mesa company that remains the majority owner with 2.
CALIFORNIA | LOCAL
August 4, 1988
Two workers were critically burned Wednesday evening when an electrical panel exploded at a Costa Mesa business. Jess Burnett and Doug Lang, employed by Valentec International Corp., were treated by paramedics and airlifted by helicopter to the burn unit of UCI Medical Center in Orange, Costa Mesa Fire Department Battalion Chief William Raymer said. Burnett suffered second- and first-degree burns over 80% of his body, Raymer said. Lang suffered similar burns over 60% of his body.
BUSINESS
February 16, 1994
Safety Components International Inc., a maker of air bags and ammunition, said it plans to sell 1.3 million shares for $10 to $12 a share in an initial public offering. Safety Components was formed to conduct the business of two subsidiaries of Valentec International Corp. in Costa Mesa; the subsidiaries make ammunition and automobile air bags. A management team bought Valentec from Inselco Corp. of Dublin, Ohio, in April, 1993.
BUSINESS
July 19, 1994 | JOHN O'DELL, TIMES STAFF WRITER
Valentec International Corp. said Monday it has signed a preliminary agreement to sell its four remaining manufacturing units, including its Wells Division military ordnance plant in Costa Mesa. Valentec said it plans to sell the units to CPI Aerostructures Inc. of Ronkokoma, N.Y, in a cash and stock deal. Details were not disclosed.
BUSINESS
May 7, 1994 | JOHN O'DELL, TIMES STAFF WRITER
Safety Components International, an automotive air-bag maker, raised $13.2 million Friday in an initial public offering that had investors bidding up the price much of the day before cooling a bit. The hot stock, which trades on the Nasdaq electronic system, rose almost 23% in value from its $10 offering price before settling down to close at $11.625 a share. Safety Components is a spinoff of Valentec International Corp., a Costa Mesa company that remains the majority owner with 2.
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