SCIENCE/TECHNOLOGY
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Resdel Industries said a subsidiary, Resdel Engineering, and Texas Mil-Tronics of San Antonio have filed a joint disclosure statement and a Chapter 11 reorganization plan with the U.S. Bankruptcy Court in San Antonio.
The plan proposes that Resdel Engineering of Arcadia would acquire the assets of Texas Mil-Tronics, a small defense electronics company. Resdel would assume the Texas firm’s existing secured debt--less than $1 million--and about $6 million of government contracts, said Bruce G. Rossiter, chief financial officer of Newport Beach-based Resdel Industries. Resdel would continue to operate the Texas Mil-Tronics plant in San Antonio, which employs about 25 people.
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