Atchison Casting completes sale of Los Angeles Die Casting assets. (Acquisitions).Atchison Casting Corp., Atchison, Kansas  , announced the sale of all the assets of its Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. Die Casting die castingForming metal objects by injecting molten metal under pressure into dies or molds. An early and important use of the technique was in the Linotype machine (1884), but the mass-production automobile assembly line gave die casting its real impetus. , Inc. subsidiary to Del Mar Industries, Inc. LA Die Casting produces aluminum and zinc parts for the communications and recreation industries. Approximately $2.4 million of the cash portion of the proceeds will retire outstanding indebtedness, with the remainder available for working capital purposes. For the fiscal years 2000 and 2001, LA Die Casting recorded net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of $9.5 million and $8.2 million, respectively, and net income of $28,000 and $61,000, respectively, excluding an impairment charge of $2.7 million in the fourth quarter of fiscal 2001. For fiscal 2002, the firm recorded net income loss of $15,000 on sales of $3.6 million. |
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