Wickes Agrees to Sell Elco: Wickes Cos....

Wickes Agrees to Sell Elco: Wickes Cos. of Santa Monica entered an agreement to sell Elco Corp. of Laguna Hills to Kyocera Corp. of Kyoto, Japan, for $250 million. Elco, a leading manufacturer of computer and consumer and military electronics, employs seven at its headquarters and a total of 900 employees in the United States, Japan and West Germany. Kyocera, which has U.S. operations in San Diego, is the world’s largest producer of technical ceramic products. The sale brings Wickes, a subsidiary of WCI Holdings Corp., a total of $950 million in proceeds from divestitures since it was acquired by WCI in 1989.

Lord Boardman