David W Thompson News

Tri-State Coating And Machine Co., Inc. began operation in March 1987 with the goal of producing long-lasting parts to service the coal mine industry while creating jobs for a depressed economy. The company is located along the Guyandotte River just 15 miles south of Huntington, West Virginia. Opportunity opened in the marine industry. The hard-coated tail shaft sleeves were very much in demand but very competitive. Eventually, the firm became one of the world’s largest producers of hard-coated liner sleeves.

These frauds always emanate from Turkey and involve criminals purporting to be ship brokers and port agents. At present Signum say they are aware of at least twenty cases over the past eighteen months. The nature of the frauds are that non-existent cargo is offered to ship owners / managers at attractive rates, generally at a time when their vessel is 'spot' i.e. at a port without a cargo. The type of cargo offered varies but the favourites are cement, boilers and phosphate. The terms are always 'Liner In' meaning that the owner must pay up front for any stevedore and berthing costs.

Lowrance Electronics Inc. of Tulsa, Okla., will be merged into California-based Magellan Corp., a leading satellite access products company, as a result of a merger agreement among those companies and Magellan's parent company Orbital Sciences Corp. The transaction will create a nearly $150 million, satellite-based, consumer and recreational electronics business under the Magellan banner, according to David W. Thompson, Magellan chairman and Orbital president and CEO. "Lowrance is a leading-edge technology company whose technical know-how in GPS and sonar can be applied to emerging commercial and industrial applications and integrated with other Magellan technologies such as GPS satellite navigation and ORBCOMM satellite data communications," said John Huyett, Magellan president and CEO.