– Univision Communications Inc.
named Andrew W. Hobson as chief financial officer, succeeding Jeffrey Hinson, who resigned. Hinson, who is leaving the L.A.-based Spanish-language broadcaster to pursue other interests in Dallas, where he lives, will be available until year-end to aid in the transition. Hobson joined Univision in 1993 and currently serves as senior executive vice president and chief strategic officer. He will continue to report to Univision’s Chairman and Chief Executive Officer A. Jerrold Perenchio.
– Occidental Petroleum Corp.
was cleared by the Federal Trade Commission to purchase the chemical business of Birmingham, Ala.-based Vulcan Materials Co., provided that Occidental sells one of the plants. The FTC said L.A.-based Occidental agreed to sell Vulcan’s chemical facility and assets in Port Edwards, Wis., to ensure that the acquisition won’t reduce competition in the sale of certain chemicals. The deal, announced in October, includes $214 million in cash plus payments contingent on the future performance of the businesses being acquired from Vulcan.
– Keystone Automotive Industries Inc.
, a Pomona-based auto collision repair parts supplier, reported net income of $3.8 million (24 cents per diluted share) for the fourth quarter ended April 1, compared with $6.3 million (41 cents) for the like period a year earlier. Revenue rose to $152.5 million from $140.1 million in the year-ago period.
Results for the fourth quarter included a lease charge of approximately $1.2 million.
– Ampco System Parking
was awarded a multi-year contract renewal with the Wichita Airport Authority for Wichita Mid-Continent Airport in Kansas. The contract for the L.A.-based subsidiary of ABM Industries Inc. covers parking management service and shuttle operations for the airport’s more than 2,500 parking spaces. Financial details for the contract were not given.
– Global ePoint, Inc.
said it entered into a letter of intent to acquire Astrophysics Inc., a privately-held maker of x-ray scanning security, in a stock and cash transaction. The City of Industry-based maker of security technology products will pay $10 million cash and give 50.1 percent of its outstanding common stock and options to Astrophysics. The company expects to complete a definite agreement within 30 days and anticipates a closing date in the third quarter.
In addition, Global ePoint said it completed a private placement of series C convertible preferred stock that raised gross proceeds of $3.5 million. The company issued 1,250 shares of series C preferred stock that are convertible at $2.80 a share into 1.25 million shares of Global ePoint common stock. The deal also includes issuing warrants to purchase 625,000 common shares at $3.50 each. Proceeds are expected to be applied toward potential acquisitions and working capital.
