US-based Selas Corp. announced on 28 December 1995 that it has received a US$ 1.8 million order from Philips Lighting Co. for a glass lehr to anneal fluorescent tubes.
The company said that its Heat …
US-based Selas Corp. announced on 28 December 1995 that it has received a US$ 1.8 million order from Philips Lighting Co. for a glass lehr to anneal fluorescent tubes. The company said that its Heat Technology group, which received the order, would end 1995 with a record backlog approaching US$ 70 million, and the highest new order receipts in its 65-year history. New heat technology orders in 1995 totalled more than US$ 83 million compared with US$ 25 million in 1994, Stephen F. Ryan, president and chief executive officer, said. He said that the record backlog would take several years to complete, ensuring continuing revenues for the Heat Technology group. Ryan said that the company“s newest subsidiary, Resistance Technology Inc. (RTI) of Arden Hills, Minnesota, US, will also report a record sales year in 1995 with revenues up approximately 12%, from US$ 22.5 million to US$ 25 million. RTI revenues are not part of the backlog.