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Thursday, Sep 21, 2023

around the valleys

– San Fernando Valley North Hills Beau Boeckmann has been named president and chief operating officer at Galpin Motors. Boeckmann, 44, will oversee day-to-day operations of Galpin Ford and the 10 other dealerships under the Galpin name. Previously, Boeckmann ran the lots in conjunction with his brother, Brad, who recently retired. The Boeckmann family has been involved with Galpin since 1953 when Bert Boeckmann, Beau’s father, went to work for Frank Galpin at his Ford dealership. His father remains active in the business as chief executive, and there are eight other family members working there full-time. Chatsworth Ontic, a supplier of aftermarket aerospace parts, has signed two licenses with Safran Power Systems to service military and commercial aircraft. Terms of the deal between Ontic and Safran, a division of Safran Group, an aerospace company headquartered in Paris were not disclosed. Ontic will provide aftermarket manufacturing and maintenance, repair and overhaul services for the Boeing 737NG commercial jet, Lockheed Martin C-130J military transport and various smaller commercial jets. Ontic is a subsidiary of BBA Aviation plc, a multinational aviation services company based in London. Calabasas Ixia will continue to be listed on the Nasdaq if it catches up on past late filings and follows all regulations, an exchange panel has decided. The Calabasas maker of computer networking software failed to comply with Nasdaq rules last fall when it didn’t file quarterly reports in the aftermath of Chief Executive Vic Alston’s surprise resignation following revelations he fudged his resume. The leadership turnover caused the company to miss the filing deadline. AmaWaterways, a Calabasas river-cruise operator, announced the debut of three new ships that will set sail next year in Europe and Asia. Sister ships AmaSerena and AmaVista will travel the Danube, Main and Rhine rivers. The 164-passenger vessels will feature twin balcony staterooms, heated swimming pools with swim-up bars, salon services and fitness rooms. The third ship, the AmaDara, is a 124-passenger ship that will make its way down the Mekong River through Vietnam and Cambodia. Cheesecake Factory Inc. opened its first location in Mexico in the city of Guadalajara. The Calabasas casual dining chain has a licensing agreement with Mexican franchisor Alsea S.A.B. de C.V., which provides for the development of 12 restaurants throughout Mexico and Chile with the potential to expand the agreement to Argentina, Brazil, Colombia and Peru. The newest outlet is roughly 8,500 square feet and will seat about 220 guests. Guadalajara is the second-largest city in Mexico. Woodland Hills GrowLife Inc., a seller of supplies to the marijuana growing industry, has relocated its corporate headquarters to Washington state, where voters have approved recreational pot use. Trading in its stock was halted April 10 for two weeks by the SEC for what the agency called “potentially manipulative transactions.” At the time, shares traded for 50 cents. It had used warrants and stock as currency for everything from acquisitions to wages and rent on its Woodland Hills offices. About a month after resumed trading, Chairman and Chief Executive Sterling Scott resigned. Sylmar Tutor Perini Corp. announced three contracts worth up to $230 million. The Sylmar construction company garnered the business through its subsidiary, Roy Anderson Corp., a general contractor in Jackson, Miss. The largest is the Scarlet Pearl Casino Resort in D’Iberville, Miss., with an estimated value of $122 million. It will include a 300-room hotel and 61,000 square feet of gambling floor. Construction is expected to start in the third quarter this year. Van Nuys Exelis Inc. has received a $9 million contract to supply ground-control radar to the Saudi Arabian National Guard. The work will be done in Van Nuys by the radar, reconnaissance and undersea systems business of Exelis, based in McLean, Va. The installation of the GCA-2020 radar will provide landing guidance and manage air traffic control operations. – Conejo Valley Camarillo Sensor technology development company Interlink Electronics Inc. announced the resignation of two members of its board of directors. Lorin Krueger and Edward Fred left the board just a week after the Camarillo company added two new directors. Chief Executive Steven Bronson continues to serve on the board of directors with Angela Blatteis and Frank Levinson, who joined July 2. Moorpark PennyMac Mortgage Investment Trust has entered into an agreement with Bank of America to fund up to $550 million in new mortgages. The Charlotte, N.C. bank has agreed to buy existing mortgage loans from the Moorpark real estate investment trust, with the proceeds used to buy newly originated mortgage loans from correspondent lenders, according to a filing with the Securities and Exchange Commission. The REIT primarily invests in distressed residential mortgages and other mortgage-related assets but also does correspondent lending, originating and packaging loans for sales to banks. – Antelope Valley Mojave An aerospace startup in Mojave received a Defense Department contract to develop an experimental space plane to take small satellites into low-earth orbit. Masten Space Systems was one of three companies picked by the Pentagon’s Defense Advanced Research Projects Agency to work on the XS-1 project. The XS-1 is a reusable space plane that would travel to a suborbital altitude to deploy satellites of 3,000 to 5,000 pounds at a cost of about $5 million per launch. Masten will work on the XS-1 project with XCOR Aerospace, a Mojave company building a two-seat suborbital space vehicle. Palmdale The first light-rail vehicle from Japanese transit manufacturer Kinki Sharyo Co. Ltd. arrived this month and was delivered to the final assembly plant in Palmdale. The railcar arrived at the Port of Long Beach on July 16 and then was taken to Palmdale. It is the first of 78 cars ordered by the Los Angeles County Metropolitan Transportation Authority to arrive in the U.S. Kinkisharyo International LCC, the U.S. arm of Kinki Sharyo in Osaka, will do the final assembly and testing of the car, which is scheduled to be delivered to Metro in October. – Santa Clarita Valley Valencia Following an accident that injured four riders earlier this month, Six Flags Magic Mountain’s Ninja roller coaster was cleared to reopen. The clearance followed the completion of an investigation by the California Division of Occupational Safety and Health into the July 7 accident. Riders were left dangling from the suspended swinging roller coaster after reports it hit a tree branch in the evening. Four riders sustained minor injuries, and 22 people were stuck on the ride for upwards of two hours. The amusement park is owned by Six Flags Entertainment Corp., a publicly traded company in Grand Prairie, Texas. Around the Valleys To be considered for publication, submissions should be emailed to egolan@sfvbj.com. Please put ATV in the subject line. For more information, call (818) 316-3123.

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