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Show The National Enterprise , February 16, 1977 Page two PSI Will Build Computers for THE NATIONAL rab Gas Gathering System 48 MICON computers. The entire natural gas gathering system will take approximately seven years to complete, Friedland said. LOS ANGELES Process Systems, Inc. (OTC 2.75, 3.125) has received an initial contract for approximately $500,000 from Fluor Corp., Houston, Texas, to build a series of micro processor computers for use in the first portion of a project to build the worlds largest natural gas gathering system in Saudi Arabia. Harry Friedland, president and chief executive officer of PSI, said the contract with Flour will be the first of many similar computer contracts to be built by PSI for the $150 billion project. PSI engineers will begin installing the MICON computers in April, Friedland said. The computers will be placed at various points along natural gas lines to monitor and control the flow of gas. PSI has contracted with Flour, acting as engineers and contractors for the Saudi Arabian project, to build Ut. Insufficient funding and a direc- OGDEN, tionless marketing plan continued to plague Permaloy Corporation (OTC .0125, .0175) throughout fiscal 1976 (their year ending May 31), and with even higher sales than in the previous year, total net income was down. However, said Harry James, president, at the firms annual meeting last week, a $350,000 SBA loan and appointment of a full time marketing director should bring some semblance of order to the fledgeling company. James said the firm would use the money to modify present facilities which, in one area, would boost production capacity by six times, and in another, by three. The SBA loan, however, doesn't give Permaloy sufficient capital to accomplish the expansion necessary to meet the ever increasing demand for its products, James said. Along with setting marketing priorities, finding a source of equity capital will be the task of Gary Meredith, newly appointed marketing director. Backlogged Orders High Ever optimistic, James said orders backlogged are at the highest point theyve We have apever been. proximately $600,000 in firm orders in the two divisions and another $1 million in orders which have been approved but are awaiting purchase orders, said James. While the firm has vacillated the past few years between emphasizing its architectural sign division or high technology applications for its anodizing and hard coat surfaces, Meredith made clear he sees high technology as the niche Permaloy must establish itself The Notional Enterprise is published weekly by the National Enterprise Publishing Company, Inc, 500 Continental Bank Bldg P.0. Bos 11778, Pioneer Station, 6 Salt lake Cty, Utah B4147. (801) 533-055- Second Class Postage Paid Merger Complete r. Salt Lake City. Utah R. George Gregersen PSI also announced last week that a Publisher formal agreement of merger had been reached with Pow'ell Electrical Manufacturing Co., Houston, Texas. The merger, still pending approval by PSI stockholders and the SEC, provides for a tax free reorganization of PSI and Powell with PSI surviving as the public company. Friedland said the exchange involves the trade of approximately 3.7 shares of Powell stock for one share of PSI stock. Upon completion of the stock exchange, Powell shareholders will own approximately 78 percent of the new PSI company. Permaloy Sets Priority on High Technology Applications 50 Cents Per Copy Subscriptions S24.00 per year Alene Bentley Editor Dean Alsup, Mary McMillan Gaber, Jo Schneider Staff Writers Peter Harrison Kristopher R. Passey Advertising Manager Production Manager M& Indeed, with the many testing orders in the works, the prospects are promising and he intends to level his marketing attack in that dirin. ection. Since a presentation to the American Electroplaters Society in Atlanta, Ga., on the application of the Permaloy process for solar selective surfaces, chairman Jack Woods said the firm has received inquiries from all over the world as well as the U.S. They were awarded a contract by International Solar Marking Inc. in San Diego for a substantial quantity of solar selective surface panels and solar concentrator tubes over the next several years. And a home just completed by Habitat Architectural Group in southeast Salt lake City utilizes solar panels coated with a Permaloy surface. B.F. Goodrich, prime contractor for the U.S. Air Force, has specified the Permaloy PCA hardcoat process for several different air plane parts. A recent study shows that an overwhelming majority of Americans have faith in our economic system. Only a small number favor changes. Yet, 92 feel some modifications are needed. In the months and years ahead, we're all going to be called upon to make great decisions as our American Economic System adjusts to new conditions. The more we all know about our system, the better we can decide what to preserve, what to change. To help give you a clearer picture, a special booklet has been prepared. It's easy to read, interest-ing and free. 1 Every American ought to know what it says. Chrysler Testing Testing of Permaloy s coating by Chrysler Motors aluminum on a newr die-camaster brake cylinder is underway. If they opt to use it, over 300,000 parts will be required for 1978 cars. If approved, it could be utilized on several million parts by st 1979-8- 0. We cant claim The American Economic System. Its one of your basic freedoms. to have the contract in hand, Booklets, P.O. Box 1887, New York, N.Y. 10001 James told shareholders, but we have full confidence Chrysler will approve it. Permaloy will either have to license Chrysler Motors or someone near them, James said, to ensure the auto manufacturer is supplied. Three companies who arc competing for contracts for 30 MM ammunition cases and high explosive projectile Continued on page nine Please send me a free copy of the booklet about our economic system. I would also like a copy of the survey highlights. Name Address City 3S Vsy A Pubiic .State. -- Zip. service message of The Advertising Gouncil and U.S. Department of Commerce presented by this Magazine. major |