Colorado Springs Gazette-Telegraph from Colorado Springs, Colorado • Page 108

Talggraph Sunday, Feb. 26, 1978 9 Golden Cycle Awaits Joint Venture (Continued from prior page) additional $250,000 in cash and notes. Golden Cycle then sold the Portner farm to a Nebraska farm family for $200,000 in cash and a note for $410,000, bringing the total price to about $1.1 million Since then, the company has been successful in other major land deals, including the sale of 400 acres of its Rockrimmon property in early 1977. The sale enabled Golden Cycle to reduce its debt with $13 million The company also sold another 235-acre parcel in September 1977 for cash and a term note, which will not be applied to the land debt until the note matures this year. The Texasgulf-Golden Cycle Mining a joint venture with Texasgulf Inc has progressed extensively since the partnership was formed in January 1976.

Under the agreement, Texasgulf was to expend $3 million toward exploration, evaluation, and development of the mining properties shared by the two companies Texasgulf reached and exceeded that figure in the spring of 1977, and as of Sept. 30, 1977 had invested a total of $3,395,000 in the venture. To maintain its 40 percent interest in the joint opera tion, Golden Cycle must con- gulf invests $5 million. Texasgulf presently maintains a 60 percent interest in the joint operation. Golden Cycle believes it will be able to retain its 40 percent share of the joint venture Should the company's cash difficulties continue, however, Golden Cycle may elect to hold back additional funds while retaining a 20 percent interest.

Golden Cycle has a year- round workforce of approximately 1,100 employees. The common stock is traded on the New York Stock Exchange. The firm was incorporated in 1895. Revenues for the nine months ended Sept. 30.

1977 were $54.9 million, down from the $58.7 million reported in 1976. Net income for the same period was $394,000 and $397,000 respectively. William T. Wells. 51, is president, chairman, and chief executive officer of Golden Cycle.

Corporate headquarters is located at 102 N. Cascade Avenue. LOOART PRESS WALTER DRAKE SONS INC. Walter Drake Sons a privately held company, is a specialty mail order firm featuring unique, hard-to- find items for a nationwide market. The sole retail store and company headquarters are located at 4510 Edison Avenue.

Walter Drake does most of its business through its catalog operations. The company publishes alternately 80- and 90-page catalogs every few weeks. During the last several years Walter Drake has expanded its personalized Christmas card business and its personalized stationery and address label line Manv items are printed a duplication pro- of these through cess. Personalized address labels are one of the oldest products. The company also maintains a warehouse at its Edison location, containing approximately 6.000 square feet of space.

Walter workforce reportedly averages 450 persons on a year-round basis, but fluctuates during the summer months and Christmas season The company was founded in Colorado Springs in 1947. The firm's top officer is Walter Drake, its 56-year-old chairman Cecil Wayman, 56, is the company's vice president and general manager. LOOART PRESS INC. Looart Press Inc. is a leading designer, manufacturer and marketer of a wide range of paper products and wedding and social stationery.

The company does business through its main plant and home office at 3525 Stone The American Stationery a wholly owned subsidiary in Peru, and a imprinting plant in Burlington County. N.J. Looart employs an average of 750 persons, but adds another 200 employees during the peak season between July and November. The year-round figure includes employees at the Burlington County facility. The majority of the business is done through its Current Inc.

division. The Current Inc. mailing list presently numbers 4.1 million persons, and Looart is in the process of adding new products to the division's line. The division recently purchased a new computer from Honeywell Inc. Looart retail products include wedding and social stationery, sold in stores throughoo1 the country.

The company also had offered a line of over 200 Christmas card designs until last year, when it was discontinued due to a drop in demand. American Stationery subsidiary is primarily an imprinting facility. The company does all the imprinting for White Lace album, and markets its own American Stationery Wedding album. The subsidiary also is involved in personalizing Looart stationery. main plant contains 100,000 square feet of space, and the company leases an additional 110,000 square feet.

Gary Loo, president of the firm, said the company plans to break ground on a new facility at the corner of Woodmen Road and Interstate 25. The plant, expected to be completed in the spring of 1979, will contain 125,000 square feet of space and will consolidate Looart's outlying operations. Looart Press Inc. is a privately held company and does not release figures on net income or sales. The company's top officers are Lester Loo, chairman of the board, sr4 Gary Loo, president.

WESTERN FORGE Western Forge is a major manufacturer of hand tools producing the line for Sears. Roebuck Co and Simpson-Sears Ltd. of Canada. The company does business through two locations in Colorado Springs the main plant and home office at 4607 Forge Road, and a subsidiary operation at 94 Commerce St. The two operations contain a total of 186,000 square feet and employ 690 persons.

Western Forge also operates a spacialized plier production facility in Canon City, completed in 1972. The 44.000-square-foot plant employs 180 persons, and will undergo expansion this year, bringing plant size to 61,000 square feet. The Colorado Springs operation also will be increased by the addition of 13.000 square feet. Western Forge is a pletely integrated manufacturing operation, beginning with raw steel and plastic and ending with a variety of finished products. Tools manufactured by the company include screwdrivers, cold and wood chisels, steei punches.

adjustable wrenches, pliers, and other and hand tools. Western Forge will begin test marketing of a proprietary brand of hand tools in March of this year, with distribution in Denver and Colorado Springs. The Western Forge brand will include combination wrenches, sockets and tool boxes in addition to the products currently manufactured. Western Forge privately held company incorporated in 1965, does not release figures on annual gross revenues or net income. The president and chief executive officer of Western Forge Corp is C.

William Schlosser, 55. BL i i i estern orce PAINTING YOUR HOME OR OFFICE? call the professionals for inside or out Don't take chances our professionals do oil work for you. Guaranteed results, sensible rates, fast service! Free estimates, too! FALLEY HOME IMPROVEMENT 473-6014 WHITE AUTOMOTIVE White Automotive Corp. (Whitco) is the leading manufacturer of accessory items for pickup trucks and four-wheel-drive vehicles. The companv manufactures a wide line of products, including convertible and pickup truck tops, carpeting, tire covers, roll bars, brush guards, tire carriers and grill guards customers include Ford Motor American Motors-Jeep Chrysler Corp Gen eral Motors Interna tional Harvester Corp.

an( other distributors and au tomotive converters. Whitco maintains three facilities locally a 45.000- square-foot manufacturing and office site at 4401 N. Cascade a foot design and engineering facility at 4025 Northpark Drive; and a 4.000-square- foot shipping and storage facility at 4949 Northpark The company leases its shipping and storage site The bulk of 242 employees work in the Colorado Springs locations. The company also operates a branch plant in Columbia City, opened in 1973 to manufacture roll bars and swing-out tire carriers Capabilities and manufacturing space at the Columbia City plant were doubled in 1977. Whitco plans to develop a line of proprietary products to be manufactured at both of its plant locations beginning this year.

The company is presently engaged in work on a convertible top for the International Scout SS-II and is developing an aftermarket line of Rider roll bars, brush guards and grill guards. Whitco was incorporated in 1959 and began full-scale operations in 1963. The company's approximate gross revenues for each of the past two years totaled over $10 million. is a privately owned company and does not release net income figures. Whitco's top officer is Richard T.

Bingham. 52, the company president. NL The new Fiat 2 year, 24,000 mile Warranty. Longer than Toyota, Fiat now offers a longer power train warranty than any of these imported or domestic cars. We give you the same basic warranty as everybody else for the first 12 months But now added a warranty to cover the engine, transmission, and drive train for the next 12 months or 12,000 miles.

So basically, you're covered for just about anything that could go wrong the first year, and covered for transmission, drive train and most engine parts the second year. How can we do this'7 Well, it wasn as simple as just changing some numbers on some papier. spent millions of dollars and engineering hours over the last few years making Fiats more reliable and depiendable. What we've come out with is a Fiat that's not only a pleasure to drive; so dependable and so reliable, also a pleasure to own. Your Fiat dealer can put you in one for a test drive And he can also show you the details of our new warranty and how it differens from those of other cars.

Mere How You Are Protected. Fiat Motors of North America, Inc. will warrant to the retail purchaser each part of each new 1978 Fiat except tires and batteries to be free, under normal use and service, from defect in material and workmanship for 12.000 miles or 12 months from the date of delivery, whichever event shall first occur. The transmission, drive train and most engine parts will be warranted for a total of 24.000 miles or 24 months from date of delivery, whichever event occurs first. Any part found to he defective will be replaced or tepaired at the option of Fiat.

See your Fiat dealer for exact terms of the Fiat Motors of North America, Inc. Warranty, anna First we improved the car Then we improved the warranty. 40S W. FILLMORE CONTINENTAL MOTORS LTD. 473-1975 Don't Like It Hot? 1 may rnaie a few hot under the collar.

tinn of the agncultural experiment station of Texas started trying to develop a jalapeno pepper that isn hot Since then, at least $84,000 in state and feder- Tonai'nk a 11 0n the according to The Tecas Observer. An food specialist says that at least one fast-food chain and a few firms that make spices and bean dip want the tamer pepper claiming the public doesn really like the hot variety. Compac tor Now 9 5 Mode i DC-8500 Washers and Dryers Refngerators Ranges Microwave Ovens Dishwashers Trash Compactors above ail TV AND ower APPLIANCES 2202 E. Platte 473-1006 Ou. mi all TV ion I buy km guy bte.gt urKc itMsn lAMpool 4 Ustb TV Vgtgo Cm solfi TV Itntpji 10-1 -M.

10 5 Sot for the best time of your life! CLOCKS by Herschede Ansonia Howard Miller WATCHES Universal Geneve Seiko-Bulova Timex SALES SERVICE Over 21 Years experience Certified Master Watchmaker No. 3028 GRANDFATHER CLOCK SPECIALISTS tick tock shop 1120 NORTH CIRCLE DR. 475-8585.