Word: applicon
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...companies that have captured the lead in designing and marketing CAD/CAM equipment have names like Applicon, Calma and Computervision, and are among the hottest of the hot new high-tech darlings of Wall Street. Applicon, a leader in the field, with fiscal 1980 sales of $75 million, is being taken over by New York City-based Schlumberger Ltd., the big oilfield services firm, which is anxious to establish a strong foothold in the field...
With a $300,000 loan, for which Company President James A. Kollar had to put up personal collateral, Koltanbar bought an Applicon design system with a computer, two work terminals and a printer. Once installed, the system began to produce immediate savings. Soon draftsmen working from a designer's sketch, who previously needed 120 hours to produce a particular polished drawing, were knocking them off in a day. A major project that once would have taken 190 to 220 weeks could now be done in 80. Though the company is producing more work than ever, its number of employees...
...arrival of Applicon has not produced the sort of worker backlash that might have been expected. Adapting to the new techniques was initially difficult, but now many of the draftsmen disdain the traditional drawing board. Says Ron Hendricks, 25, a Koltanbar draftsman: "I prefer what we have now. It takes everything out of drawing that was tedious. We never have to start from scratch any more." Adds one of his co-workers happily: "Once you learn how to use the system, it's great." Koltanbar's principal customer seems to think so too. At the GMC Truck & Coach...
Enzo Biochem, a little-known genetic-engineering firm, went public at $6.25 a share in June, and is now selling at $14.75 after a November stock split. Applicon, a manufacturer of computers and software for industrial design, opened at $22 in July, and has risen 78% to $39.25. Genentech, the San Francisco gene-splicing company, went on sale in mid-October at $35 a share and was immediately driven up to $89 on the first day. It has since dropped back to nearly $46. Wall Street meanwhile is anxiously awaiting the public offering of Apple Computer, the go-go maker...
...encouraged pension funds to invest part of their huge assets in riskier ventures like new issues, antiques and diamonds; and institutions have soaked up about 70% of the larger initial public offerings this year. For example, Chemical Bank's $90 million Aggressive Equity Fund bought stock in Applicon, Cado Systems, Boston Digital and BancTec, all high-technology companies, as well as 5,000 shares of Genentech at its initial price...
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