Figgie Will Keep 1 of 2 Anaheim Subsidiaries
- Share via
ANAHEIM — Figgie International Inc. said Wednesday that it will not put Interstate Electronics, one of its two Orange County subsidiaries, up for sale.
The company, based in Willoughby, Ohio, said Wednesday it plans to sell businesses accounting for almost half its sales to reduce its debt and return the ailing conglomerate to profitability.
A spokesman for Figgie said it is keeping Interstate Electronics, which employs 1,000 people, because it believes the Anaheim-based defense contractor has the potential to grow.
No decision has been reached regarding the fate of Figgie’s other Orange County subsidiary, Interstate Engineering, a vacuum cleaner manufacturer. Interstate Engineering, with 130 employees, also is based in Anaheim.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
