LRJ President Increases Stake in Calnetics Corp.
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The president of LRJ Enterprises, a Chatsworth management-services firm, raised his stake in Calnetics Corp. to 17.1%, or 473,574 shares, from 2.5%.
In a filing with the U. S. Securities and Exchange Commission, Larry D. Sacks said his Calnetics holdings increased following Calnetics’ purchase of Chatsworth-based Manchester Plastics Co. on Sept. 18. Sacks held stock in both companies before the merger.
Sacks’ stake in Manchester was converted into 403,500 Calnetics shares as a result of the merger, the filing said. Calnetics also issued a $110,000 promissory note to Sacks, who was named a director of Calnetics, a Paramount-based maker of precision parts and electronic products.
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