DWI Corp. Homes In on Modular-Housing Design
|
|
As it looked around for ways to make money, DWI hit upon a San Francisco real estate developer called Otec Corp., which was just emerging from bankruptcy proceedings in 1986. The idea was to merge the two companies, sell off some real estate and use the money to launch some of DWI’s own products, including a three-dimensional video screen. Under the deal between the two companies, DWI agreed to buy $175,000 worth of preferred stock and take 12% of Housing Developers’ common stock in return for giving Housing Developers’ a 10% stake in DWI. PHOTO: DWI President [Arthur Ellsworth], left, and Chairman [Robert Fujioka] with a car interior project for General Motors. DWI will tackle homes next. / GARY AMBROSE / Los Angeles Times Source : pqasb.pqarchiver.com |